The 2030 Agenda for Sustainable Development describes eradicating poverty as “the greatest global challenge and an indispensable requirement for sustainable development.” In the last two decades, extreme poverty has dramatically declined, and incomes have increased, complemented by improvements in health, education, gender equality, security, and human rights. To contribute to poverty reduction, Chemonics facilitates broad-based, inclusive economic growth. Using a systems approach, we work with governments, the private sector, financial institutions, and business-support organizations to tackle the most challenging obstacles to economic growth.
Our Services
Chemonics economic growth and trade projects are achieving impact where it’s most needed. From supporting Ukraine on its road to reconstruction, to enabling micro-, small-, and medium-sized enterprise (MSME) growth and resilience in Iraq, Tunisia, and Libya, to preparing the workforce for the jobs of tomorrow, Chemonics has been at the forefront of economic growth program design and implementation.
Our services range from direct, micro-level financial support for individual entrepreneurs to macro-level support for policymakers as they seek to develop business-friendly legal frameworks and efficiently manage public finances — and everything in between.
PUBLIC FINANCIAL MANAGEMENT. To help countries finance their own development and serve their citizens, Chemonics works with governments to build and maintain effective, inclusive, transparent, and accountable public financial management systems. We build institutional and human capacity to increase domestic resource mobilization, plan and execute budgets, and monitor, evaluate, and report on budget expenditures. Our efforts help governments better manage their resources, enabling them to improve service delivery and respond effectively to local needs.
ENTREPRENEURSHIP AND ENTERPRISE DEVELOPMENT. Chemonics works with private sector firms and entrepreneurs to create, grow, and sustain businesses that stimulate economic growth. Using a facilitative approach, we partner with local businesses and service providers to improve market linkages, foster innovation, develop products, increase access to new or improved inputs, and identify market opportunities. Our work improves access to capital, enhances technical skills, and strengthens the sustainability of high-quality business development services, resulting in increased investment and job creation.
BUSINESS ENABLING ENVIRONMENT. By reducing barriers to competition, strengthening legal frameworks, and promoting transparent business practices, Chemonics cultivates business climates that enable economic growth. Our approach focuses on reducing risk, lowering the costs of doing business, and building pro-investment climates. We help broker partnerships between government counterparts and the private sector to advocate for streamlined business procedures, greater competition, and more efficient tax and customs processes.
FINANCIAL SERVICES. Recognizing that functioning financial markets are key to broad-based economic growth, Chemonics works with financial institutions to increase the availability and affordability of financial services for MSMEs and underserved populations. We help these institutions develop, improve, and expand the reach of a variety of financial services, including digital financial services, debt and equity financing, factoring, purchase-order financing, insurance, and savings products. In partnership with host-country government ministries, central banks, and regulators, we strengthen national finance infrastructures by supporting policy reform and capacity building for local capital markets, credit bureaus and other key institutions.
TRADE AND REGULATORY REFORM. Chemonics promotes trade capacity building, regulatory reform, and trade integration. Our programs strengthen governments’ institutional capacities to reduce trade barriers, implement regional and bilateral trade agreements, reform border-crossing operations, and build the capacity of customs officials. We facilitate World Trade Organization accession and compliance; establishment of single windows; and improvements to competition policy, investor protection, and trade-related infrastructure to enable countries to benefit fully from trade agreements.