Partnership for Growth (PFG) is a partnership between the United States and a select group of countries to accelerate and sustain broad-based economic growth by putting into practice the principles of President Obama’s September 2010 Presidential Policy Directive on Global Development. It involves rigorous joint analysis of constraints to growth, the development of joint action plans to address these constraints, and high-level mutual accountability for implementation. One of PFG’s signature objectives is to engage governments, the private sector and civil society with a broad range of tools to unlock new sources of investment, including domestic resources and foreign direct investment. By improving coordination, leveraging private investment, and focusing political commitment throughout both governments, the Partnership for Growth enables partners to achieve better development results.
Core principles of the Partnership for Growth include:
The PFG process consists of several steps, including:
El Salvador, Ghana, Philippines, and Tanzania agreed to become the first set of PFG countries based on their performance on the Millennium Challenge Corporation’s selection criteria, a track record of partnering with the United States, policy performance, and potential for continued economic growth, among other criteria.
In all four countries, the United States will move quickly to implementation in continued close coordination and partnership.