Global insights
ICC welcomes G7 commitment to catalyse private capital for development
The International Chamber of Commerce has issued the following statement in response to the G7 Leaders' declaration on mutually beneficial international partnerships.
ICC Secretary General John W.H. Denton said:
“We strongly welcome the G7’s commitment to use public development finance more strategically to mobilise private capital.
“This shift in emphasis is essential from a real economy perspective. Emerging markets face vast infrastructure needs and an urgent demand for affordable, reliable energy networks. Public funding alone cannot meet the scale of that challenge.
“We particularly welcome the emphasis placed by G7 leaders on ensuring private finance is deployed more effectively alongside support from multilateral development banks. Ensuring MDBs become genuine catalysts of private investment will require practical reforms — from scaling the use of guarantees and risk-sharing instruments to clarifying the treatment of MDB-backed finance under Basel III.
“We look forward to working on behalf of the international business community to support the implementation of this renewed development agenda in the months ahead.”
