IGD Leaders Spell Out the ‘Business of Effective Development’

Tim SolsoHarold McGrawLast week, the Initiative for Global Development–a group of business leaders brought together through their work to end poverty–posted an op-ed by two members of its Leadership Council outlining key reforms the Obama administration should consider as the President gets ready to take to the stage at this month’s UN Summit on the Millennium Development Goals (MDGs).  Harold W. McGraw, III, Chairman, President & CEO of The McGraw-Hill Companies Inc. and Tim M. Solso, Chairman & CEO of Cummins Inc. discuss three specific reforms that will not only create a foundation for US development policies and programs, but that will go a long way in strengthening public-private partnerships and leveraging the resources of the private sector on these issues.  The three reforms they list include:

  • Create a national strategy for global development–a principal MFAN ask;
  • Place a greater emphasis on results and outcomes, not inputs; and
  • Rebuild development expertise and invest for success

Read the full piece here and see excerpts below:

“After a year-long review of U.S. development policies, the timing is right to articulate publicly his plan for improving U.S. engagement with the developing world. We agree with the vision articulated by the president to date that America’s security and prosperity depend on promoting greater development around the world. For this to be successful, we believe the United States must take a more strategic, business-like approach.”

“A national strategy with clear priorities will enable the private sector – particularly businesses looking to invest – to better understand U.S. commitments to specific countries and sectors. The upcoming speech to the United Nations is a perfect opportunity to unveil the key elements of such a strategy.”

“By moving forward with these three core reforms, the Obama administration has an opportunity to build a global development strategy, based on more strategic engagement with the private sector, that expands economic opportunity abroad, raises standards of living, and brings new hope to the world’s poorest people. In turn, it will also bring countless benefits to the United States economy by creating new customers for American goods, better educated employees for American companies, and new markets for American investment in a more stable global economy.”

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