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Economic Development

A group of men and a women visiting a factory wearing overalls and helmets from the Spanish Agency for International Development Cooperation

 

The field of economic development aims to introduce inclusive and equitable economic policies on an international level and in partner countries, to develop a production network linked to the concept of decent work and to improve citizen access to financial services.

The level of unemployment on a global scale has reached nearly 200 million people, of which around 75 million are young people. The lack of job opportunities and exclusion from the labour market increase inequality, weaken social cohesion and reduce confidence in political leadership and institutions. In this respect, having a dynamic economy is fundamental for the sustained creation of jobs, which are two mutually supportive features since earnings from work boost consumption and investment, and vice versa.

Our activities are as follows:

  • We organise the planning for the Spanish Cooperation economic development policies   and its positioning within the international framework, in conjunction with other Ministries, providing criteria and guidelines for the application of a decent work agenda.
  • We draft and evaluate strategy and positioning documents in trade policies(national and European) with developing countries, in conjunction with the Secretary of State for Trade.
  • We coordinate Spanish participants in the production of basic guidelines for the introduction of the private business sector as an ally in the promotion of human rights, as well as the promotion and adoption of Corporate Social Responsibility values and practices.
  • We work on the international agenda for development funding, paying special attention to innovative sources of funding since this is one of the most promising fields in terms of stable and predictable funds, in addition to the Official Development Assistance earmarked for development targets.

To achieve this goal, we work in four different areas

 

 
 

Economic growth, promoting the productive network and decent work 

Employment and decent work must be a central development target, insofar as they form a fundamental means of achieving inclusive growth, reducing poverty and promoting human development. The lack of job opportunities and exclusion from the labour market increase inequality, weaken social cohesion and reduce confidence in political leadership and institutions. In this respect, having a dynamic economy is fundamental for the sustained creation of jobs, which are two mutually supportive features since earnings from work boost consumption and investment, and vice versa.

Trade and development

Trade can be a driver of economic growth that is able to lift millions of people out of poverty; however, this cannot be achieved by only opening up trade. On the contrary, developing countries, and in particular those that are least advanced, must take on an active role in the global trade system and understand how to use trade in the most beneficial way for them, as a tool for stimulating growth and reducing poverty.

The private sector and corporate social responsibility for development

The central role played by the private sector in Cooperation, as a driver for innovation, the creation of wealth and jobs, the mobilisation of national resources and the reduction of poverty, as been recognised on an international level  Spanish Cooperation is strongly in favour of introducing the private business sector as an ally in the promotion of human development. Working from the perspective of creating coherence among development policies, it strives to progress towards a model of cooperation based on collaborative action between the business sector and other participants in the system, as well as to foster the application of Corporate Social Responsibility values and practices in all its activity.

Development funding, innovative funding and financial instruments

We promote fiscal and monetary stability by backing both national and international redistributive policies in the search for a citizenry that is financially and fiscally educated, which would allow for increased cover for people applying for credit and other financial products and would foster inclusive relationships in the social contract between the State and its citizens. To achieve this and among other international contexts, Spanish Cooperation is working in the field of innovative funding for development, which is one of the most promising areas for stable and predictable funds, in addition to the AOD

 

 

 

 

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