The Minister for Foreign Affairs, the Hon Julie Bishop recently announced 10 new partnerships from Round Two of the Business Partnerships Platform (BPP), a flagship initiative of the Australian Government’s agenda to partner with the private sector to help deliver Australia’s aid program.
The BPP is designed as an entry point for new partners, Australian and overseas entities, to work with DFAT to deliver social impact and commercial returns in the region. This is achieved by providing business and partners the opportunity to address issues like market access to value chains across several commodities, affordable vision correction, digital payment platforms and a job information service.
Krissy Co. and Fairtrade Australia & New Zealand are working together to improve access to markets for smallholder coconut farmers in Samoa. Since 2012, they have been supporting the Savai’i Coconut Farmers Association, a smallholders’ farmers’ business on the development of fairtrade, organic coconut cream supply in Samoa.
Partnerships like these exemplify shared value, with Krissy Co. benefiting through an upgrade of its processing equipment, obtaining an internationally recognised Fairtrade process certification and an increased sustainable supply of organic coconuts. Through this initiative, 74 new jobs will be created in the manufacturing facility, sales are projected to increase by 400 per cent and household incomes to increase by 200 per cent due to productivity.
Under this round, the Government is investing $4.4 million, leveraging $6 million in funding from private sector partners. The private sector is an essential partner to achieving sustainable poverty reduction as the largest source of employment and economic growth in developing countries. These new private sector partnerships will support work the Government is undertaking in nine countries: Bangladesh, Cambodia, Indonesia, Laos, Myanmar, Pakistan, Samoa, Sri Lanka and Vanuatu.
For more information on the BPP, visit the Business Partnerships Platform website.