Economic development is key to eradicating poverty. Accelerating progress is essential if the goal of zero extreme poverty by 2030 is to be achieved. The evidence is clear that this will require much higher growth rates in many countries, more inclusive growth - in particular for girls and women, and actions to tackle the structural barriers that deny poor people the chance to raise their incomes and find jobs.
DFID’s Economic Development Strategic Framework highlights the importance of the institutions that encourage private investment and export growth: free and fair markets; sound macroeconomic management; clear and consistently applied policies, regulations and laws; secure property rights; and functioning commercial courts.
Ten months on from the Secretary of State for International Development’s decision to ramp up DFID’s work on economic development, this document summarises DFID’s strategic framework to deliver on this priority.