Building economic security and opportunity: objectives 2017 to 2018
Published 16 February 2018
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This publication is available at https://www.gov.uk/government/publications/official-development-assistance-oda-fco-programme-spend-objectives-2017-to-2018/building-economic-security-and-opportunity-objectives-2017-to-2018
1. Overview
This programme aims to increase the prosperity of countries eligible for Official Development Assistance (ODA) by driving economic reform, opening markets, ensuring access to resources and promoting sustainable global growth. It supports the UK’s National Security Strategy and also UK Aid Strategy by promoting global prosperity and contributing to a reduction in poverty. It also promotes the UK’s prosperity by encouraging economic development, sustainable growth and an improved business environments in key markets.
2. FCO objectives on building economic security and opportunity
The programme facilitates work with international partners to help create jobs and improve global economic security by:
- promoting sustainable global growth
- increasing exports and investments, which will increase opportunities for developing countries
- supporting UK excellence in Science and Innovation
- ensuring access to resources
- opening overseas markets
3. Official Development Assistance and economic security and opportunity
As set out in the UK’s Aid Strategy, global prosperity is vital for poverty reduction. No country can eradicate poverty or graduate from aid without sustainable economic growth. Supporting efforts to expand prosperity and create jobs can help reduce poverty, and address the root causes of illegal migration and violent extremism.
4. Building economic security and opportunity project objectives
This programme helps to promote sustainable global growth and open markets by:
- reducing barriers to trade including by creating jobs and market access, reducing corruption, delivering economic reforms and strengthening economic governance
- reforming international institutions to better support global prosperity
- improving the rules-based international economic system
- supporting free trade, and tackling global economic challenges *promoting full implementation and effective follow up to the Paris Agreement on climate change
Key workstreams under this programme include activities to:
- encourage regional economic growth through building the capacity of governmental or parliamentary bodies, or regional institutions
- share UK best practice and expertise e.g. in financial services, or public-private partnerships
- enhance the prospects for growth, reform and innovation at the national and provincial level, and support sustainable growth. For example, reform and development of basic education systems, or promoting private sector investment
- support key partners to address barriers to prosperity
- lift barriers to sustainable development, and promote use of international best practice among communities and well as central and local governments