Public-private alliances can increase the scale and effectiveness of trade, investment, entrepreneurship, and workforce development outcomes when development practitioners and the private sector are driven by common interests and shared goals. This presents us with innovative opportunities to expand economic activity and achieve sustainable development.
We can forge and facilitate agreements between our members, the U.S. government, host country governments, and the private sector. Our members have been fostering public-private alliances for decades.
VEGA brings together the public sector, nonprofits, and private companies to meet shared objectives.
President Obama emphasized the role of the private sector when he announced the New Alliance for Food Security and Nutrition during the 2012 G-8 Summit, with the intent of leveraging more than $3 billion from 48 African and multinational companies.
VEGA’s Members are poised to play a strong supporting role in this initiative, having established partnerships with companies such as John Deere, Heinz, Mars, Pepsi-Co, Coco-Cola, Hershey, Nestle, Cargill, Vegpro Group, AGROTECH, and the World Cocoa Foundation. VEGA Members are actively supporting economically competitive agribusinesses to scale-up and contribute to improving the overall agriculture sector, attracting more farmers into modern, high potential value chains.
We take an outcome-based approach to forming strategic alliances to contribute to both business and development objectives.
VEGA strives to involve the private sector in its programs, whenever possible, to maximize the sustainability of programs. Partnering with VEGA, private organizations on the ground are required to contribute at least a 1:1 ratio of matching resources (time, money, products). These private partners are also project beneficiaries.
The Assistance in Building Afghanistan by Developing Enterprises program is built around establishing public-private alliances to stimulate innovation-focused initiatives. This program mobilizes private sector resources and ideas by encouraging investment in business initiatives.
Partners match ABADE funding on at least a 1:1 basis. Through this approach, ABADE’s development funds leverage significantly greater private sector investments to focus on innovation-focused initiatives.
Sri Lanka Biz+
The VEGA/BIZ+ program provide investment grants to new and existing enterprises, requiring the enterprise recipient’s 1:1 match.
Each enterprise also receives strategic technical assistance to strengthen institutional capacity in addition to financial support.