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More than one billion people worldwide struggle to survive on less than US$1 a day. The Canadian International Development Agency (CIDA) is committed to the Millennium Development Goal (MDG) of halving the proportion of people living in poverty and suffering from hunger by 2015. Poverty reduction will not be possible without rapid, sustained, and inclusive economic growth that provides opportunities for the poor to improve their lives. The private sector drives growth, creating income and employment opportunities for poor women, men, and children.
CIDA supports developing countries’
efforts to strengthen their private sectors
to drive economic growth.
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Poverty reduction requires strong efforts to address the needs of the private sector in developing countries. The private sector is comprised of micro, small, medium, and large enterprises. These include rural and urban entrepreneurs and enterprises, and cottage industries and cooperatives engaged in market activities. In many countries, small and medium enterprises have the potential to play a major role in growth. However, these enterprises continue to face barriers posed by complex and inefficient regulations; difficulties in accessing financial services, skills, knowledge, and technologies; or obstacles to selling goods and services in national, regional, or international markets.
Private sector development is a priority for Canada. Consistent with the recommendations of the United Nations (UN) Commission on the Private Sector and Development, CIDA works with its partners in Canada and abroad to support efforts in developing countries that promote entrepreneurship, create an enabling environment for doing business, and help entrepreneurs connect to new markets.
Related CIDA Sites
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