Conference highlighting the report "IFIs and Development Through the Private Sector"
On June 25, 2012, IFC organized an IFI Report outreach event in Vienna, together with the Development Bank of Austria (OeEB) and the Austrian Federal Ministry of Finance (BMF). The evening panel featured Christian Grossmann (IFC Director of Corporate Strategy), Michael Wancata (OeEB Board), and Guenther Schoenleitner (BMF IFI Director ), as well as three panelists from think tanks and academia (Cornelia Staritz of OeFSE, Christian Bellak of Vienna University, and Barbara Coudenhove of ICEP as moderator). Rounding out the panel was Ruth Picker, the head of the NGO umbrella organization, Globale Verantwortung.
Grossman gave a detailed explanation of the report, as well as IFC's cooperation with Austria. Staritz focused on the different types of Private Sector Development and how it can bring about structural change in economies. Schoenleitner emphasized the importance of quality, sustainable economic growth for poverty reduction. Other discussion included the need for ethical supply chains and performance standards, the Doing Business report criteria, inclusive business and the informal sector, worker rights and IFC's Development Outcome Tracking System (DOTS). A recurring theme recognized by all panelists was the need for governments and the private sector to work together, and that IFIs are at the nexus of this dynamic.