Global Perspectives on Triangular Co‑operation 2025

4. A snapshot of triangular partnerships with the private sector

Abstract

This chapter explores some of the pathways, models, motivations, challenges and success factors in triangular co-operation partnerships involving the private sector. It offers examples of innovative triangular partnerships and reviews the various approaches being taken to leverage the expertise, knowledge and financial weight of the private sector, governments, multilateral development banks, business associations and other partners to co-design initiatives that simultaneously drive development progress and advance shared business goals in a win-win-win dynamic.

The 2030 Agenda for Sustainable Development and the outcomes of the Fourth International Conference on Financing for Development (FfD4) leave no doubt: Achieving the SDGs demands the collective responsibility of the broader community – governments, international and regional organisations, the private sector, civil society, philanthropy, local actors, and many others. Business as usual is no longer an option. The Business Steering Committee,1 in a communique issued at the FfD4, called on the private sector to expand investment vehicles and platforms that deliver impact, partner with governments and development partners, align sustainability standards across borders, reassess financial regulations to incentivise long-term investment, and expand access to finance for underserved markets and enterprises (UN, 2025[1]). Moving from declarations to actions – that is, forging new partnerships where everyone contributes, learns and benefits – is the challenging next step.

Triangular co-operation, by creating platforms that integrate development expertise and practical innovation from different sources in horizontal partnerships, can drive such impact and action. The private sector has emerged in recent years as an increasingly important partner in triangular co-operation including as a co-designer of solutions that align commercial objectives with development goals. To further unlock the opportunities offered by partnerships with the private sector, traditional co-operation frameworks must be reimagined to create flexible spaces where private firms can join not only as funders, technology providers or contractors but also as co-creators and peers in the pursuit of customised development solutions.

Triangular partnerships with the private sector are still few in number. Much remains to be done in terms of collecting data (Chapter 2), learning from these partnership journeys and sharing evidence on their results. However, evidence to date suggests there are two main challenges to working with the private sector in triangular co-operation. First, how to connect private and government partners, regardless of whether they are located in developed or developing countries, to address a development challenge. And second, how to bridge the apparent paradigm divide between the development co-operation world and the private sector.

Horizontal and multistakeholder efforts offer some guidance. One significant example is the Kampala Principles and toolkit, which emerged from a collaborative effort to guide collective work on making private sector partnerships for development co-operation more effective (GPEDC, 2019[2]). These also outline who and what are included in the overarching term “private sector”, ranging from smallholder farmers and informal workers to large multinational companies and financial institutions.

Together with partners from the public sector, private sector actors can support or assume different roles in triangular co-operation. They can benefit from the partnership, for instance through new contacts or knowledge, and play a pivotal role in the partnership by providing expertise and resources and facilitating the progress of the collaboration, for example by contributing efficient procedures or logistical knowledge. While documentation of cases and results remains limited and many partners continue to find such engagement challenging, the private sector is appreciated for the strengths it brings to the table: competitive, feasible and sustainable solutions and a capacity for implementation as well as investment, innovations and social responsibility.

Interviews2 and desk studies of project documents suggest that knowledge sharing in triangular partnerships can take place in at least three ways:

• through business-to-business peer exchange and learning, or B2B

• through the sharing of private sector expertise with government partners, or B2G

• through the improved conditions for business that public and/or government partners provide, or G2B.

This chapter provides a snapshot of the highly dynamic landscape of triangular co-operation involving private sector and development stakeholders, with a focus on the different motivations, success factors, challenges and emerging models of private sector engagement. It offers perspectives that can be relevant for countries aiming to attract greater private sector involvement in triangular co-operation; for private enterprises and business associations interested in participating in triangular co-operation; and for international organisations promoting business and economic development. Drawing on the experiences of the Islamic Development Bank (IsDB) Reverse Linkage mechanism, especially in Asia, the focus region of this report, as well as on project experiences of other partners, the chapter also offers concrete ideas for strengthening the enabling environment for private actors and supporting scalable, high-impact partnerships.

4.1. Approaches to including the private sector in triangular partnerships

The private sector can become an active partner in triangular co-operation through a variety of different approaches. One is to work through structured programmes, facilities or funds for triangular co-operation to facilitate partnerships with non-government actors including the private sector. Doing so can lead to adapting the working dynamics of such mechanisms and enable new forms of partnerships other than the more traditional way of implementing triangular co-operation through knowledge sharing and grants. Once the mechanism is open in explicit and clear terms, potential partners can reach out to the broader network of partnerships of an institution or country to explore platforms and portfolios that exist in the ecosystem of the benefitting, pivotal and facilitating partners. These networks allow actors that are ready to partner to connect and learn about each other's motivations, limitations and working methods. Some partners in triangular co-operation have created a conducive environment for engagement with the private sector including the European Commission, Germany, the IsDB, Japan, Singapore and Spain, among others (Table ‎4.1).

Table ‎4.1. Examples of triangular co-operation mechanisms that welcome private sector engagement

Partner	Triangular co-operation facility/programme	Participation from private sector	Structures, networks and potential nodes to connect with private sector
European Commission	ADELANTE 1 and 2	Encouraged in ADELANTE 2, drawing on lessons from the first phase	EU Global Gateway
Germany	Regional Fund for Triangular Cooperation with Partners in Latin America and the Caribbean; Fund for Triangular Cooperation with Asia	Encouraged through calls for proposals and openness to private sector partners being part of project proposals and implementation	DeveloPPP; KfW banking group with German Investment and Development Corporation (DEG); Gesellschaft für Internationale Zusammenarbeit (GIZ)
IsDB	Reverse Linkage	Reverse Linkage policy to explicitly include private sector partners	Organisation of Islamic Cooperation (OIC), International Islamic Trade Finance Corporation (ITFC)
Japan	Third Country Partnership Program	Encouraged through Japan’s private sector policy, Japan International Cooperation Agency’s (JICA) Private Sector Investment Finance (PSIF), and its focus on working with Japanese firms to implement development co-operation projects	Japan Bank for International Cooperation, JICA, Nippon Export and Investment Insurance
Singapore	Third Country Training Programme and Singapore Cooperation Enterprise’s Partnership Programme	Private sector engagement encouraged and supported by the Singapore government	Singapore Cooperation Enterprise and Enterprise Singapore
Spain	Triangular Cooperation Program for Latin America and the Caribbean	Explicitly encourages multistakeholder partnerships, including through its decentralised triangular co-operation of different Spanish regions	Compañia Española de Financiación del Desarrollo S.A. S.M.E. (COFIDES); regional governments

Source: Authors’ own compilation.

Triangular programmes that welcome private sector actors are found in all regions. For instance, ADELANTE, the EU’s flagship triangular co-operation programme with Latin America and the Caribbean, initially did not offer partners from the private sector the opportunity to directly participate in calls for project proposals (Piefer-Söyler and Pelechà Aigües, 2020[3]). But this changed in its second phase when the private sector was encouraged to participate as early as the project formation period (ADELANTE, 2025[4]). The shift corresponded with the start of the EU’s Global Gateway programme in 2021.

Likewise, Germany’s two regional funds for triangular co-operation, one with partners in Latin America and the Caribbean and the other with partners in Asia, encourage private sector participation, and the calls for proposals of the Asia Fund in China explicitly target private sector and civil society partners. More broadly, Germany facilitates private sector engagement in partner countries through a diverse set of mechanisms and instruments and provides incentives for the German private sector to engage in development co-operation through dedicated mechanisms and instruments such as the Agency for Business and Economic Development, develoPPP, and the AfricaGrow fund and through the provision of export credit guarantees (Hermes Cover) and investment guarantees. In addition, the network of German Chambers of Commerce Abroad offers support to partner countries and German businesses to engage in building capacity and establishing business associations. The government is seen as a strategic partner and private sector actors also value the support of the GIZ network in partner countries (OECD, 2021[5]).

Spain has renewed its triangular co-operation approach and in 2024 launched the Triangular Cooperation Program for Latin America and the Caribbean, which aims to transition to a more advanced model of triangular co-operation by focusing on partnerships formation, innovation and co-creation. With the support of the Spanish Agency for International Development Cooperation (AECID) and drawing on the experience of innovation initiatives such as INTERCOONECTA, Spain has developed methodological tools for different audiences to facilitate co-creation processes. The programme’s call for proposals explicitly welcomes the private sector as well as regional and international organisations, civil society, and academia to participate in the proposed triangular partnerships. Multistakeholder and multi-level initiatives are prioritised in project selection. Private sector partners were included in 4 of the 21 proposals approved in 2024 (AECID, 2025[6]).

The IsDB has explicitly opened its Reverse Linkage mechanism for triangular co-operation and adapted its working dynamics to fully include partners from the private sector, using its network as an anchor to institutionalise private sector engagement. Through this mechanism, it supports its member countries to share their knowledge, expertise, technology and resources to develop capacities and devise solutions for their national development. The IsDB has three clearly defined roles in this process, acting as a connector, a facilitator and a provider of catalytic financing (Islamic Development Bank, 2019[7]).

As a result of the IsDB’s decision to engage a broader range of actors in triangular co-operation exchanges, both the providers and recipients of knowledge and resources now may come from the public sector, the private sector or civil society. Private sector partners can be engaged as providers of expertise and solutions, for instance, but also be financial partners, which encourages collaborations that are fully led by the private sector such as business-to-business (B2B) partnerships. Through its peer-to-peer stakeholder-empowered approach to triangular co-operation, the IsDB has branched out from traditional public financing: To co-finance triangular initiatives and activities, it has mobilised private sector investment beyond grants, including direct investments, impact investments and loans, among others, in addition to intellectual property and in-kind contributions such as technology, training and infrastructure (Box ‎4.1). The Reverse Linkage policy includes safeguards to ensure that the beneficiary’s development goals remain the chief focus – for example by evaluating the eligibility of proposals following an agreed set of criteria while also creating opportunities for the facilitator and pivotal partners to benefit – thereby ultimately fostering a win-win-win dynamic (Islamic Development Bank, 2019[7]).

The IsDB’s Reverse Linkage also takes advantage of existing platforms and portfolios to bring actors together and learn. In this regard, it uses the networks of the OIC and promoted the participation of affiliated entities, notably the ITFC, which focuses on trade facilitation and export development. By connecting suppliers and buyers across member countries, the ITFC enhances trade-based solutions that align with development priorities.

Box ‎4.1. Moving beyond grants: Embracing a wide range of private sector contributions in the IsDB’s Reverse Linkage

Financial contributions by the private sector in Reverse Linkage projects can include, among others:

• grant contributions that are provided for the benefitting stakeholder (regardless of categorisation) including through corporate social responsibility resources

• direct investments that are made during project implementation as part of the project itself to ensure successful completion of all intended outputs

• direct investments committed to a partnership that are made upon completion of the intended outputs of a Reverse Linkage intervention

• impact investments, made on a reimbursement basis, that will be returned to the provider upon achievement of a specific development objective

• loans obtained by the beneficiary stakeholders from the IsDB, any IsDB entity or commercial banks.

Non-financial and technical contributions can include, among others:

• technical expertise that is provided by the private sector actor’s existing human resources at a substantial discount or free of charge as part of the intervention

• in-kind contributions such as use of facilities, existing equipment, etc.

• patents, intellectual property and other types of knowledge products that are shared and/or transferred to the beneficiary as part of an intervention.

Source: Authors’ compilation.

4.2. Models of private sector engagement in triangular co-operation

Private sector engagement in triangular co-operation takes many forms. Interviews conducted for this report, the co-authors’ own experiences and additional research identified six possible models of how businesses contribute to and benefit from triangular co-operation. These six models demonstrate the diverse ways in which private sector actors participate in triangular co-operation, but they should not be viewed as rigid or mutually exclusive approaches, and they often overlap within a single project. In practice, private sector initiatives often cut across multiple models. A company entering a new market through a public-private partnership (PPP), for example, may simultaneously engage in technology transfer and capacity building. Similarly, ecosystem development initiatives frequently overlap with efforts to expand markets or support regulatory reform. This hybridity reflects the inherent flexibility of triangular co-operation as a modality. Table ‎4.2 includes possible risks in these models of prioritising profit maximisation over development goals or adopting a form inconsistent with a horizontal partnership.

Table ‎4.2. Overview of five models for private sector engagement in triangular co-operation

Model	Roles in triangular co-operation for the private sector	Way of engaging	Opportunities/ developmental contribution	Risks
Knowledge transfer and capacity building	Pivotal or facilitating partner as mentor and advisor; benefits from experiences of other private sector partners	Capacity strengthening	Institutional strengthening, local skills growth	Private sector not a partner and co-designer but a hired knowledge provider
Supporting innovations, technology transfer and localisation	Pivotal in providing adapted technology; benefits in adapting innovations from other private partners	Providing equipment, training and local implementation	Technology diffusion, innovation absorption	Cultural differences in adapting innovations insufficiently respected
Market access and expansion	Pivotal as catalyst for market development and service innovation; benefits from new market access	Structured entry via trilateral platforms	Investment in underserved sectors	Profit goals or aims dominate the project; unfair access and impact of local players
Public-private partnership (PPP)	Pivotal as service co-provider; benefits from the experience and de-risking support provided by public and private partners	Contractual partnerships and joint governance	Public service delivery	Private sector as public service provider in lieu of governments
Industry ecosystem and regulatory frameworks	Pivotal as ecosystem builder; benefits from the expertise of other private partners	Regulatory, compliance and certification design	Market creation, quality assurance, export support	Profit goals or aims dominate the project and bias of regulatory framework
Local private sector development	Benefits from the knowledge and experiences of the pivotal partner; pivotal partners share tested solutions such as agri-business incubators, co-operative models and sustainable financing tools	Capacity strengthening, sharing and scaling up innovations	Business development, SME strengthening, support of smallholder groups and co-operatives, strengthening women’s economic empowerment	Promoting experiences of the pivotal partner without adaptation to the local realities in the benefitting context

Note: SME = small and medium-sized enterprise.

Source: Authors’ own compilation.

To meaningfully scale up private sector involvement, it is essential to move past the limitations of grant-dependent financing and explore innovative financing mechanisms that better align with the private sector’s operating models and risk-return expectations. These may include, among others:

• sovereign-backed financing models that use public guarantees to lower risk for private investors

• blended finance structures that combine concessional and commercial capital to catalyse private investment

• results-based financing approaches that tie payment to achieved outcomes, thereby rewarding efficiency and performance.

By mitigating financial exposure and reducing transaction costs, such instruments help incentivise the private sector to contribute not just funding but also innovation, technology and operational expertise. The IsDB experience in de-risking private sector involvement through sovereign guarantees offers a compelling example of such innovative financing in action.

4.2.1. Knowledge transfer and capacity-building model

In this model, private sector actors such as innovation incubators or business associations act as knowledge intermediaries, contributing specialised expertise to strengthen institutional capacity in partner countries. Rather than pursuing immediate commercial returns, companies participate as technical advisors, trainers, facilitators and/or institutional mentors (Box ‎4.2). Activities can include public sector capacity development, regulatory advisory services and curriculum design. This model can also enable local institutions to internalise global best practices while allowing private sector firms to expand their policy influence and build reputational capital.

Such triangular partnerships offer a number of benefits for companies that motivate them to join. The flexibility, openness to learn and exchange, and horizontality in triangular partnerships often provide them access to learning networks that include other firms, academic institutions and policy think-tanks. These interactions may foster further collaborative approaches to problem solving and promote the transfer of best practices across sectors and countries. For example, experienced companies may serve as informal mentors to new entrants, helping them navigate the complexities of development finance, public sector negotiation and cross-cultural engagement through mentor-mentee programmes.

Box ‎4.2. Supporting the internationalisation of start-ups through triangular co-operation: The EU ADELANTE programme connecting Latin American and European markets

In 2021-2022, partners from Colombia, Mexico, the European Commission and Germany jointly developed a sustainable internationalisation model tailored for Colombian impact-driven start-ups. The collaboration aimed to bridge entrepreneurial ecosystems by supporting market entry, strengthening business capabilities and fostering cross-continental partnerships.

The project was led by Corporación Ruta N in Medellín, Colombia, with key contributions from Impact Hub Monterrey in Mexico and Impact Hubs in Hamburg and Leipzig, Germany. Impact Hub Medellín played a vital role as a collaborating entity, overseeing local implementation and mentorship; the Impact Hub network, with offices in all three countries, acted as a bridge and facilitator between the different partners. Together, these partners combined their expertise to co-design and pilot a so-called soft landing model for international expansion that was tested with 14 promising start-ups selected through a competitive process.

The initiative provided in-depth training on legal, financial and operational aspects of entering European markets. Start-ups also benefited from mentorship with international experts and networking events with investors and corporate leaders. In a study visit to Germany for five of the start-ups, participants engaged with the local innovation ecosystem and validated their business models. Throughout the project, human rights and environmental sustainability were embedded as cross-cutting priorities. The initiative ultimately delivered a replicable methodology for supporting international business growth.

Source: Information from the project interview; European Commission (n.d.[8]), Soft landing COxDE for Colombian impact-driven start-ups, https://international-partnerships.ec.europa.eu/policies/programming/projects/soft-landing-coxde-colombian-impact-driven-start-ups_en.

4.2.2. Supporting innovations, technology transfer and localisation model

Scaling up innovations is one of the key strengths of triangular co-operation. Spotted in one place, new ideas and solutions can be shared with partners in the same region and beyond through the facilitation of a third partner (OECD, 2022[9]). Often, but not exclusively, innovations are (co-)created with the private sector. Groundbreaking digital innovations in Africa such as mobile banking (Box ‎4.3) are one example; the use of drones in the health sector and to collect data is another (Box ‎4.4).

Box ‎4.3. M-Pesa: A digital innovation developed from a partnership with the private sector

M-Pesa has revolutionised the provision of financial services in Africa

In 2000, the UK Department for International Development set up its first Financial Deepening Challenge Fund with a volume of GBP 15 million. It offered organisations in 15 countries (12 in sub-Saharan Africa with the rest in India, Pakistan and the United Kingdom) a chance to win grants of between GBP 50 000 and GBP 1 million. Safaricom and Vodafone in Kenya were among the winners and launched M-Pesa, the first mobile banking platform in the country, in 2005, providing mobile banking services for people who had had no access to financial services. Based on its experiences in Kenya as pivotal partner and through the facilitation of the private sector and the United Kingdom, M-Pesa expanded to Afghanistan, Democratic Republic of the Congo, Egypt, Ethiopia, Ghana, Lesotho, Mozambique, South Africa and the United Republic of Tanzania.

Source: OECD (2022, p. 32[9]), Triangular Co-operation with Africa, https://triangular-cooperation.org/wp-content/uploads/2022/10/OECD_Triangular-co-operation-with-Africa.pdf; Pompa (2013[10]), Understanding Challenge Funds, https://odi.org/documents/4516/9086.pdf; Ali and Phillips (2017[11]), “8 things we learned from running a challenge fund”, https://blogs.worldbank.org/voices/8-things-we-learned-running-challenge-fund; Batchelor (2012[12]), “Changing the Financial Landscape of Africa: An Unusual Story of Evidence-informed Innovation, Intentional Policy Influence and Private Sector Engagement”, http://doi.org/10.1111/J.1759-5436.2012.00367.X.

This model involves the introduction and contextual adaptation of proprietary technologies such as construction techniques, diagnostic tools, digital platforms and manufacturing systems. Private firms not only provide the tools and equipment but also embed training, maintenance and knowledge sharing to help local partners absorb the technology. Successful models often include co-development with state-owned enterprises, research institutes or vocational training centres (Box ‎4.5). This creates shared ownership, reduces dependency and supports the diffusion of innovation beyond the initial intervention.

Incentives in this model include access to funding that may be urgently needed to actualise a local innovative idea. In addition, its multi-actor and cross-regional structure encourages private sector partners to develop or refine their products and services in ways that are more responsive to real-world development needs and allows for them to be tested in different policy, regulatory and environmental contexts. Engagement across a variety of institutional, technical and cultural contexts exposes firms to new demands and use cases, further stimulating adaptive innovation. This iterative learning process frequently results in the creation of new market-ready solutions that have application not only for the benefitting partner(s) but also across other similar contexts. In this way, development engagement can directly contribute to product diversification and business model evolution. This model can also be implemented by providing mentoring and comprehensive support to start-ups that have innovative proposals and would benefit from additional funding, the refining of products and services with the support of the system, and mutual learning with research and vocational centres, industry actors, and experienced firms.

Box ‎4.4. Using drones to innovate in the health, agriculture and climate sectors

Aerodyne, a Malaysian drone company, leveraged triangular co-operation to enter Gambia’s agricultural sector, a strategic expansion into a previously untapped market. Through the triangular partnership, which was facilitated by the IsDB, Aerodyne introduced AI-powered drone services including land mapping, crop monitoring and digital analytics to support rice farming. Importantly, the engagement extended beyond technical deployment: The company also co-developed regulatory frameworks with the Gambia Civil Aviation Authority, trained local drone operators and data managers, and participated in policy dialogue to support sustainable adoption. The initiative shows how triangular co-operation can enable private sector actors to combine commercial innovation with developmental objectives while also establishing long-term operational and reputational footholds in new regions. It also exemplifies how multilateral backing can lower entry barriers and enable technology transfer in frontier markets.

Digital innovations made in Africa are at the heart of a triangular co-operation between Côte d’Ivoire, Rwanda and Germany to design impactful drone use cases tailored to local priorities. In Rwanda, drones are used to combat malaria linked to climate change and for precision agriculture in the coffee and tea sectors through high-resolution mapping that enables targeted pest management and yield forecasting. In Côte d’Ivoire, drones and satellite data monitor forests for carbon storage and support wildlife monitoring in protected areas. By collaborating with public and private stakeholders, the project develops actionable, scalable open data solutions that promote resilience, sustainability and improved living conditions in rural Africa. The actions are paired with work on secure and innovation-friendly regulation and its implementation as well as the development of local capacities and technical expertise to ensure sustainable growth in Africa's emerging drone technology sector.

Zipline, a California-based start-up, co-created its innovative method of delivering much-needed medical supplies to remote areas in Africa via drones with a Tanzanian computer programmer and health researcher and the government of Rwanda. Zipline started delivering blood products, vaccines and other medical supplies by unmanned drones to remote areas in Rwanda that are not well-served by the country’s road infrastructure in 2016. Using that experience, Zipline then opened a new distribution centre in Ghana in 2018. The success in both African countries helped Zipline obtain the authorisation to operate in the United States in 2019. During the COVID‑19 pandemic, Zipline signed an agreement with Pfizer to deliver vaccines in Ghana and Nigeria and is planning to expand into the Japanese market.

Source: Interviews and research by authors; OECD (2022, p. 32[9]), Triangular Co-operation with Africa, https://triangular-cooperation.org/wp-content/uploads/2022/10/OECD_Triangular-co-operation-with-Africa.pdf; de León (2021[13]), “Role of medical drones in global Covid vaccine campaign is growing”, https://www.cnbc.com/2021/02/04/role-of-medical-drones-in-global-covid-vaccine-campaign-is-growing.html; Dean (2021[14]) "Drones in Ghana Deliver COVID Vaccines To Rural Communities", https://www.businessinsider.fr/us/covid-vaccine-ghana-drones-covax-who-coronavirus-zipline-rural-communities-2021-3; Zipline (n.d.[15]), Zipline (website), https://flyzipline.com/.

Box ‎4.5. Empowering health systems through win-win-win partnerships

PT Bio Farma (BioFarma), Indonesia’s only vaccine producer, is a state-owned enterprise established in 1890 and headquartered in Bandung. With 20 vaccines prequalified by the World Health Organization and an annual production capacity of up to 3.1 billion doses, BioFarma stands among the top five global suppliers to the World Health Organization (WHO) by volume and plays a vital role in advancing global immunisation.

Within the framework of the IsDB’s Reverse Linkage mechanism, BioFarma has been engaged as a strategic partner with the Institute Pasteur de Dakar (IPD), which has initiated the MADIBA project in support of Africa’s vaccine self-reliance agenda and in alignment with Senegal’s Plan Sénégal Émergent, which targets 50% local pharmaceutical production by 2035, and the African Union’s goal of producing 60% of vaccines locally by 2040.

The Reverse Linkage model promotes mutual development through knowledge sharing and innovation. In this context, BioFarma offers its well-established expertise in vaccine production to strengthen the IPD’s capabilities. It also is contributing across several areas including technical training in cell culture and viral vaccine quality control, staff competency assessments, and guidance on setting up quality control infrastructure at the IPD. Additionally, BioFarma is assisting in the development of a GS1-based digital traceability platform, aligned with global standards such as the UN Children’s Fund Traceability and Verification System, or TRVST, initiative to support efficient vaccine distribution in low- and middle-income countries.

The collaboration delivers mutual benefits. For the IPD and Africa, it enhances regional vaccine security, fosters local job creation and expands access to affordable, high-quality vaccines. For BioFarma, it opens new business opportunities, elevates its international advisory profile and reinforces Indonesia’s contribution to global health, particularly as a member of the OIC.

Source: Authors’ own compilation based on information shared by the project partners.

4.2.3. Market access and expansion model

In this commercially driven model, private companies engage in triangular co-operation primarily as a strategic vehicle for entering new or emerging markets (Box ‎4.6). Many private sector actors, especially those seeking new revenue streams to grow in frontier or underserved markets, see triangular co-operation as a practical platform for overcoming entry barriers. A defining feature of this model is that firms may not passively respond to invitations but actively pursue triangular co-operation as a tool for market development.

Companies may be motivated to join a triangular partnership because the facilitation of public and multilateral partners lends institutional legitimacy and political backing to initiatives, which in turn lowers perceived risk and increases trust among host country stakeholders. Government-to-government agreements, when used as a framework, often provide formal pathways for private sector involvement, such as through MoUs or official partnership endorsements. These mechanisms reduce reputational and regulatory uncertainty for firms entering complex environments.

By opening up previously underserved sectors or by opening sectors to new proposals or to traditionally marginalised entrepreneurs, triangular co-operation enables access to innovation, investment and specialised services. It also offers more responsible approaches to entrepreneurship – for instance to sectors and entrepreneurs originating in rural areas managed sustainably by Indigenous and local populations or to address the needs of these populations – that might not have otherwise been available. These engagements can contribute to job creation, local supplier networks and improvements in service delivery, thereby aligning private sector incentives with public development outcomes.

Box ‎4.6. Accessing new markets to enhance road connectivity in Senegal, Uganda and Kyrgyzstan

Probase Manufacturing Sdn Bhd (Probase), a Malaysian infrastructure company specialising in soil stabilisation and proprietary road-sealing technologies, implemented a road construction project in Senegal with support from the IsDB, EXIM Bank Malaysia and the Senegalese government. While the IsDB provided concessional financing to the Senegalese side and Malaysia’s EXIM Bank funding mechanisms supported the project, Probase also contributed by directly investing its own capital. This investment included funding from the Malaysian government for feasibility studies, support from EXIM Bank Malaysia for international private sector projects and the establishment of local production facilities for construction materials.

The project shows how strategic partnerships can create lasting socio-economic impact across regions while creating commercial value. Probase’s road technology upgrades unpaved roads to asphalt standard with a 20-year design lifespan and a 10-year maintenance guarantee, offering a cost-effective, sustainable solution for underserved regions. In support of the Plan Sénégal Émergent, 63 kilometres of pilot road were developed in a Reverse Linkage engagement with Probase. Beyond construction, Probase provided technology transfer, facilitated academic collaboration and offered a ten-year maintenance plan. Local production was also established, and a corporate social responsibility component provided millet mills to women’s groups to enhance livelihood opportunities and promote gender inclusion along the constructed roads. Overall, Probase prioritises local employment (80-90%), capacity development and skills transfer to foster long-term self-reliance.

By sharing both investment and feasibility risks, the project successfully demonstrated how triangular co-operation can mobilise blended financing from public and private sources. Probase’s localisation of production and workforce development not only improved efficiency but also strengthened local ownership, illustrating the broader potential of co-investment models in scalable infrastructure solutions for low-income markets.

Building on Senegal’s success, Probase pledged USD 75 million in 2023 to expand Reverse Linkage collaboration. Further opportunities have been identified in Uganda to integrate rural road improvement with agricultural value chain development, including palm oil. Additionally, in Kyrgyzstan, Reverse Linkage efforts extend to digital innovation and support for building information modelling-based road design. Probase has also partnered with another Malaysian private sector and building information modelling expert, Reliant Design Solution Pte Ltd, and took on the role as Reverse Linkage mentor.

Source: Authors’ own compilation based on inputs from the project partners.

4.2.4. Public-private partnership (PPP) model

This model represents a formalised long-term collaboration between public authorities and private enterprises to deliver essential public services such as healthcare, infrastructure, water and sanitation, or pandemic preparedness (Box ‎4.7). The private partner delivers and funds public services using a capital asset in this model, thus sharing the associated risks (OECD, 2025[16]). PPPs in triangular co-operation contexts often emerge through government-to-government MoUs, with the private sector brought in as a co-implementer. Projects under this model can involve shared financing, co-design of service models and risk-sharing arrangements. Its advantage lies in combining the operational efficiency and innovation of the private sector with the policy legitimacy and oversight capacity of government institutions.

Incentives for the private sector to engage in such triangular co-operation include access to financing and risk-sharing instruments such as blended financial instruments that help de-risk early-stage engagement. Many firms, especially small and medium-sized enterprises (SMEs), have difficulty absorbing the upfront costs of feasibility studies, pilot implementation and institutional negotiation. Through triangular co-operation, these companies can benefit from concessional financing, matching grants, technical assistance funds, and co-financing arrangements led by development banks or development co-operation agencies. These resources not only ease initial investment burdens but also enable experimentation with innovative solutions in new sectors or regions. Furthermore, the shared financial commitment across public and private actors increases the perceived viability of such projects, attracting additional stakeholders or follow-on investors.

Box ‎4.7. Artificial intelligence (AI) meets development: How ADDO AI empowered Indonesia’s pandemic response and beyond

With the outbreak of COVID-19, the Indonesian Ministry of Health’s data systems were quickly overwhelmed by a surge of information. The ministry’s Center for Data and Information (Pusdatin) faced the critical challenge of transforming vast amounts of raw data into meaningful insights to support the national response. Limitations in infrastructure and analytical capability posed significant hurdles. To address these, a strategic partnership was established through the IsDB’s Reverse Linkage and ADDO AI, a Singapore-based firm known for its AI and data science solutions.

Indonesia required a smart, integrated big data system capable of real-time analysis, predictive modelling and policy support. With ADDO AI’s prior experience in health analytics and predictive disease surveillance and with support from Enterprise Singapore, the IsDB facilitated collaboration with both Indonesia’s Ministry of Health and Ministry of National Development Planning (Bappenas). The one-year project, launched in April 2022, set out to establish an intelligent big data infrastructure, deploy AI and machine-learning tools for outbreak forecasting, and build institutional capacity for AI-driven decision making. Activities included infrastructure assessment, development of a new platform, deployment of AI applications and capacity building through a training-of-trainers model followed by six months of support. A joint steering committee including the health ministry’s data centre, ADDO AI and the IsDB provided oversight.

The initiative enhanced Indonesia’s ability to monitor health trends in real time, strengthened pandemic preparedness and created a replicable model for broader application. It also demonstrated the mutual benefits of public-private collaboration. ADDO AI gained a strategic market foothold in Indonesia while the public sector benefited from proven technical capacity, exemplifying the value of involving agile, innovative private sector stakeholders in sustainable development efforts.

Source: Authors’ own compilation based on inputs from the project partners.

4.2.5. Industry ecosystem and regulatory frameworks model

In this model, private firms work closely with public authorities to strengthen and support industry ecosystems (Box ‎4.8). These collaborations go beyond individual transactions or services and focus on building the regulatory, institutional and operational foundations for a sector to grow in a sustainable and standardised way. This can entail the development of certification schemes, compliance tools, regulatory frameworks and sector-wide platforms. This model is most effective when international standards, trust and quality assurance are prerequisites. For benefitting partners, such collaborations build export capacity and raise sectoral competitiveness. For firms, they create stable markets underpinned by common standards and reliable enforcement.

Box ‎4.8. Building ecosystems to catalyse inclusive growth in halal trade in countries with Muslim communities

Serunai Commerce Sdn. Bhd. (Serunai) is dedicated to enhancing connectivity and transparency within the global halal market through innovative digital solutions. To meet growing domestic and international demand for halal products, the Malaysian company has developed platforms that seamlessly connect halal producers with consumers. Its aim is to advance economic and social progress by digitising and harmonising the halal ecosystem worldwide while strengthening the institutional capacities of halal certification bodies.

Serunai’s ongoing contributions to Reverse Linkage projects and its digital platforms enable benefitting partners to elevate halal certification standards, streamline audits and enhance supply chain transparency. These efforts not only promote trade and investment but also foster inclusive economic growth, generate employment, raise industry standards and contribute to sustainable economic development across participating nations.

Leveraging Malaysia’s leadership in the halal industry, Serunai supports halal authorities in both IsDB member countries and others (e.g. Fiji) to enhance governance, technical standards and international recognition. In collaboration with the IsDB Reverse Linkage division, Serunai deploys six proprietary digital systems including VH SMART and Verify Halal complemented by tailored training and capacity-building programmes. This comprehensive approach fosters effective adoption, operational efficiency and sustainability of digital halal frameworks.

Beyond technology, Serunai acts as a mentor to private sector actors engaged in Reverse Linkage initiatives, offering structured mentor-mentee programmes endorsed by the IsDB. This mentorship accelerates knowledge transfer and strengthens project implementation, as shown by partnerships such as Zaiyadal Aquaculture Sdn Bhd, which pledged USD 25 million to fisheries development opportunities in IsDB member countries.

Moving forward, Serunai plans to expand to a more programmatic approach through its multistakeholder INOUR programme to build a multisectoral, cross-border integrated global halal ecosystem. This initiative aims to integrate other Malaysian private sector partners like Zaiyadal Aquaculture and Aerodyne Group (Box ‎4.4) to promote halal-compliant innovations across diverse industries while fostering South-South and triangular co-operation.

Source: Authors’ own compilation based on inputs from the project partners.

4.2.6. Local private sector development model

Triangular co-operation can support inclusive private sector development by connecting practical know-how from experienced partners with the needs of emerging enterprises in developing contexts. By focusing on grassroots actors such as smallholder farmers, women-led businesses, co-operatives and rural start-ups, this approach fosters entrepreneurship, strengthens value chains and supports integration into the formal economy. At its core, this model combines peer learning, local capacity building and catalytic support to create enabling ecosystems for inclusive business development. Through triangular co-operation, grassroots entrepreneurs gain access to knowledge, technology and markets while building institutions that can foster innovation. By linking local needs with global expertise and collaborative partnerships, this model also contributes to broader development goals such as decent work, women's economic empowerment and rural transformation (Box ‎4.9).

Box ‎4.9. Strengthening rural women producers and smallholder farmer co-operatives through triangular partnerships

A pilot triangular co-operation project between Germany, India and Malawi led to the creation of Malawi’s first women’s agri-business incubator model, designed to support rural women producers in developing sustainable enterprises. Drawing on India’s experience and technical know-how, the first agri-business incubator in Malawi was established, which enabled 55 Malawian women farmers and trainers to access training in entrepreneurship, value chain development and co-operative management. From a single farmer to organising 15 women using the new beekeeping expertise, establishing a green banking system and running a co-operative for women and youth, the triangular partnership showed concrete results. This innovative model has the potential to spread across the country and create a significant impact on advancing economic inclusion and rural development (Kumar, 2025[17]).

In another partnership using the local private sector development model, Argentina, Brazil, Cuba, Mexico and the EU, together with universities in Argentina, Colombia and Italy, explored how to develop sericulture in the Latin America and the Caribbean region. By harnessing unique technical expertise related to all stages of the silk value chain, the project co-created targeted solutions for local producers and artisans in the region. Funds were directly channelled to local producers and manufacturers of silk along with specific technical assistance in the fields of basic production, transformation and commercialisation. This approach allows final beneficiaries a great degree of flexibility to choose from a wide range of solutions and financial assistance, which has had a direct and immediate effect on their businesses (GPI on Effective Triangular Co-operation, 2019[18]).

Source: OECD (2024[19]), 8th International Meeting on Triangular Co-operation: Linking Global Processes to Create Local Impact, 7-8 October 2024, Lisbon – Summary of Discussions, https://triangular-cooperation.org/wp-content/uploads/2025/01/Summary_8th-International-Meeting-on-Triangular-Co-operation_Lisbon-2024.pdf; Kumar (2025[17]), Characteristics of India-Germany’s Triangular Cooperation Approach in Africa, https://www.ris.org.in/sites/default/files/Publication/DP-308_Sushil_Kumar.pdf; GPI on Effective Triangular Co-operation (2019[18]), Triangular Co-operation in the Era of the 2030 Agenda: Sharing Evidence and Stories from the Field, https://triangular-cooperation.org/wp-content/uploads/2020/12/Final-GPI-report-BAPA40.pdf.

4.2.7. Motivations for the private sector to engage in triangular co-operation

Private sector participation in triangular co-operation is shaped by different motivations and incentives on the part of all partners involved in the strategic, financial, technological, operational and reputational domains. These extend beyond simply closing a financial gap. The role that the private sector and its partners take in triangular partnerships depends on to a great extent on which actors of the diverse private group are involved and which development challenge the project tackles. These vary case by case.

The six models discussed in the previous section show that the private sector value proposition encompasses proven knowledge and solutions, business development, market creation, employment generation and the harnessing of intellectual property as well as providing proven and mature technology – all elements that are crucial to building sustainable and robust economies. Experience shows that the financial capacity, innovation, technology and agility of the private sector can boost the possibility of success in triangular partnerships. Moreover, the private sector brings an entrepreneurial approach to triangular co-operation that is often missing in time-bound development co-operation interventions and emphasises efficiency, scalability and sustainability.

At the same time, triangular co-operation can bring together private sector actors with a sustainability perspective and invite in outside actors that usually stay in business-related environments. Such engagements create opportunities for parallel peer-to-peer conversations about investing collectively in resilience, about transformation of core operations and about approaches to circular economy. Triangular co-operation offers some private sector partners, among them SMEs as well as multinational companies, compelling incentives to collaborate in, for instance, facilitating market entry and expanding to new geographies, de-risking, learning, knowledge exchange, supporting product and service innovation, and strengthening social impact. The more documentation and evidence from experiences that incorporate different private sector voices, the better the ecosystem will understand the dynamics of engagement.

When designed and implemented well, projects involving the private sector generate outcomes that are not only developmentally meaningful but also commercially viable and a strategic tool for business growth. These incentives are particularly salient in today’s development landscape where complex challenges require adaptable, cross-sectoral and collaborative solutions.

4.3. Challenges to private sector engagement in triangular co-operation

While triangular co-operation offers significant opportunities for partnerships with the private sector, it also comes with challenges. These challenges often stem from inherent differences in ways of working, mismatched expectations, institutional rigidity and structural barriers across partner contexts. Some of the common challenges identified in the initiatives and experiences analysed in this report include the following:

• Differing priorities and agendas. Ensuring that the goals of sustainable development will prevail when engaging with actors of the private sector whose priorities are seeking business opportunities and profit was a central challenge.

• Mutual lack of awareness. Sometimes neither private sector nor development co-operation actors are aware of the others’ opportunities, forums, dynamics and processes. This can be an obstacle to even starting a conversation, let alone knowing where to meet the right potential partners or how to find opportunities to take the first step in a collaboration.

• Cultural, linguistic and operational barriers. As in any development co-operation project, differences in regulatory frameworks, organisational and institutional approaches, and business norms pose communication and co-ordination challenges (Box 3.13 of Chapter 3). On top of overcoming language and inherent cultural differences, understanding the operational logics of different stakeholders is crucial for successful trilateral partnerships. The same words are often interpreted differently in different (organisational) cultures.

• Regulatory and bureaucratic complexity. Many private sector partners find it difficult to navigate the government procedures and regulatory frameworks of partnering countries. Delays in approvals, limited awareness of triangular co-operation mechanisms among local authorities, and overlapping institutional mandates can create uncertainty and slow implementation.

• Mismatch of timelines. Differences in operational culture and timelines frequently surfaced as a point of friction. While private firms are often driven by commercial timelines and efficiency goals, public institutions may require longer consultation, clearance and reporting processes. This misalignment can lead to a loss of momentum, budget overruns or project redesign mid-stream.

• Potential power imbalances. There is a significant risk of increasing power imbalances when partnering with private actors for development co-operation. Facilitating market access for a few or foreign actors has implications for the local market players. Mobilising platforms and partnerships with governmental actors can also create asymmetry within a sector or industry, and motivations of private entities to engage in triangular co-operation differ depending on their size, structure and business model. The Kampala Principles and toolkit (GPEDC, 2019[2]) as well as the OECD DAC Blended Finance Principles (OECD, 2018[20]) and the two Guidance documents (OECD, 2021[21]) (OECD, 2025[22]) are tools to navigate this challenge.

• Access to financing to conduct feasibility studies and pilot projects. Accessing early-stage funding for feasibility studies, pilot projects or preparatory work remains a major constraint, particularly for SMEs. Traditional development finance mechanisms often do not cover these costs, and private investors may be hesitant to enter high-risk or unproven markets without catalytic support. This highlights the need for targeted financial instruments that support pre-implementation stages of triangular co-operation projects such as those offered by EXIM Bank Malaysia to support Malaysian companies operating abroad (Box ‎4.6).

4.4. Making it work: Reflections on private sector success in triangular co-operation

As the international community prepares to implement the Seville Commitment (Compromiso de Sevilla) of the Fourth International Conference on Development Finance (FfD4) and accelerates efforts towards achieving the SDGs, treating private sector engagement as optional or secondary is no longer sufficient. Such engagement is a strategic imperative – a critical driver of innovation, efficiency and sustainability in development co-operation. This includes embracing the private sector as an equal development partner with shared accountability and a vested interest in the long-term success of triangular partnerships. Drawing on insights from the IsDB’s Reverse Linkage and other triangular co-operation facilities and projects, the following elements3 consistently emerge as critical to the success and scalability of private sector involvement in this modality:

• Foster a culture of partnership. Partnership is the heart of successful triangular co-operation. Partnerships require a shift from transactional models to transformative relations. They thrive on mutual respect, sustained dialogue and a shared vision of success. Triangular co-operation can provide a platform for experimentation, which helps build long-term strategic relationships. Many firms find that initial participation in small-scale development projects serves as a stepping stone to broader regional engagement. Through repeated interaction with governments and development partners, companies can solidify their presence in key sectors, gain policy influence and co-develop initiatives with long-term growth potential. These relationships also foster continuity, trust and co-ownership, making the private sector a stable and integrated partner in multi-year development strategies. To this end, triangular partners will have to invest in relationship building with each other, working for contract-based engagements but also for purpose-driven, principle-driven and impact-oriented arrangements. Some ways to do so include:

  • Establish platforms for regular consultation to listen and learn from each other and to build trust. Actors that approached triangular co-operation with a focus on building relationships rather than short-term gains are more successful in establishing trust.

  • Make space for an open, horizontal and transparent conversation about interests, expectations, risks and potential benefits throughout the process of finding shared goals. Beyond co-financing, also seek to co-design the interventions while leveraging proven solutions, knowledge, expertise and flexibility in continuous co-ordination with the local stakeholders. Doing so can ensure that triangular partnerships are built on increased ownership and commitment.

• Recognise and celebrate success – in terms of deliverables, project results and impacts of investment but also in terms of establishing trust, mutual knowledge, indirect effects and enlargement of networks.

  • This entails recognising the contributions of others (e.g. in-kind contributions and the time and effort people put into the joint endeavour) as well as the contribution of risk sharing, including by experimenting with a horizontal and collaborative approach to working together.

• Work towards mutual understanding, acknowledge language differences and overcome bureaucratic hurdles. Private sector stakeholders are enthusiastic partners, but both firms as well as development co-operation institutions struggle with the technical and institutional capacity needed to engage effectively. Given that each comes to the partnership with its own jargon, standards and procedures, it is important to acknowledge the differences and offer mutual support with clarifications, tools, knowledge and networks to comply with international standards and access financing mechanisms. This support empowers the participants and also strengthens the overall quality and inclusivity of triangular interventions.

• Encourage flexibility and adaptability. Private sector stakeholders operate in fast-moving environments characterised by constant shifts in technology, consumer demand and policies. Adaptability and flexibility are crucial to maintaining relevance and momentum, and both are also key features of triangular co-operation. Allowing room for iterative design and innovation not only improves project outcomes but also aligns better with the operating models of private partners.

• Prioritise local engagement and contextual understanding. Strong and sustained engagement with local actors – from government agencies to community organisations – is a consistent success factor. Projects that build in time to understand local regulatory, cultural and institutional contexts were more likely to be owned by all partners, implemented effectively and embedded into existing systems. When training, mentoring, capacity strengthening and local adaptation are built into the project design, they foster stronger local ownership, improve sustainability and support long-term institutional strengthening.

• Expand access to early-stage financing and risk-sharing tools. High upfront costs and limited access to feasibility funding remain key barriers, particularly for SMEs. Development banks, co-operation agencies, multilateral organisations and other development partners could expand the use of blended finance instruments to support the early stages of triangular co-operation projects. These include feasibility grants, concessional loans, first-loss guarantees and matching funds. In addition, targeted support for due diligence, regulatory analysis and early-stage technical design can help lower entry thresholds for private companies and encourage innovation in high-risk contexts.

• Promote peer learning and onboarding among private actors. Some SMEs and local entrepreneurial initiatives run more sustainable and context-sensitive operations. Structured peer-learning platforms can allow experienced actors that have participated in collaborations with both the public and private sectors to share insights on navigating development co-operation systems and private sector dynamics as well as cross-cultural engagement and negotiation. These exchanges help demystify triangular co-operation and change preconceived notions about the private sector, accelerate learning, and build a more diverse and capable private sector ecosystem. Establishing informal communities of practice can also promote alignment in sustainable values, approaches and expectations across projects and regions.

• Enhance visibility and awareness. Triangular co-operation is often neither visible nor well known to development and commercial stakeholders. Actors interested in engaging with the private sector can explore how to enhance visibility in the private sector’s language and natural spaces by attending conferences, award programmes, matchmaking forums and knowledge-sharing platforms that highlight successful private sector partnerships.

By sharing their experiences of partnership formation in triangular co-operation and making these more available, actors from all sides can continue learning and building an enabling ecosystem for horizontal partnerships. Collaboration is an urgent necessity now, and this urgency should be a strong motivator to address constraints and show openness to experimentation.

References

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Notes

← 1.  The Business Steering Committee for UN FfD4 was launched on 25 June 2024 to engage with the wider universe of businesses for the Fourth International Conference on Financing for Development (FfD4) in 2025. The Committee is co-chaired by the GISD Alliance and the International Chamber of Commerce. The Committee brings together for the first time a broad range of business organisations and groups as well as UN system-related private sector initiatives. The role of the Committee is to agree on issues of importance to private stakeholders to bring to FfD4, engage with the intergovernmental process of the Conference, arrive at headline business commitments and partnerships to be launched; and organise an International Business Forum on the sidelines of FfD4.

← 2.  To inform this chapter, 20 interviews were conducted with private sector representatives and their triangular co-operation partners. For a complete list of interviews and activities that informed this report, see Annex B.

← 3.  These elements are highlighted for their specific presence in triangular co-operation initiatives and do not substitute or suggest incompatibility with principles and recommendations contained in instruments on private sector engagement in development co-operation such as the Kampala Principles.