The objective of the Policy Framework for Investment is to mobilise private investment that supports economic growth and sustainable development. It thus aims to contribute to the prosperity of countries and their citizens as well as to support the fight against poverty.
Drawing on good practices from OECD and non-OECD countries, the Framework proposes a set of questions for governments to consider in ten policy fields identified in the 2002 UN Monterrey Consensus on Financing for Development as critically important for the quality of a country’s environment for investment, including by small enterprises and foreign investors. These are:
- Investment policy
- Investment promotion and facilitation
- Corporate governance
- Policies for promoting responsible business conduct
- Human resource development
- Infrastructure and financial sector development
- Public governance
Its core purpose is to encourage policy makers to ask appropriate questions about their economy, their institutions and their policy settings in order to identify priorities, to develop an effective set of policies and to evaluate progress.
The Framework was developed by a task force of officials from about 60 governments, with participation by the World Bank and other international organisations, as well as business, trade union and civil society organisations.