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Local Innovations for Growth in Central and Eastern Europe

image of Local Innovations for Growth in Central and Eastern Europe

Local development strategies represent an important response to the challenges of globalisation, while providing a mechanism for seizing the new opportunities that globalisation offers. Nearly two decades after the fall of the Berlin wall, this book evaluates progress made and identifies what needs to be done to speed up the drive towards prosperity in Central and Eastern Europe. It demonstrates that the success of local development strategies depends on the capacity of the government and its partners to accelerate change within the policy and governance aspects of economic and social development.

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The Experience of Public-private Partnerships in Financing Entrepreneurship in Eastern Germany and Poland

Public-private partnerships (PPPs) bringing together local authorities, the financial sector and non-profit organisations to optimise financing schemes are efficient ways to foster entrepreneurship locally. PPPs provide support mechanisms that are simple, easily accessible by small businesses and tailored to their needs. For the public sector, the partnership with the private sector thus achieves high leverage. It also allows limited public funds to be used more efficiently, essentially matching microlending for entrepreneurs, mainstream SMEs and entrepreneurial growth companies with guarantees. The public sector further contributes through improving the legal framework to facilitate fundraising and lending by micro credit institutions. However, PPP is a governance tool that requires strong local leadership from the public sector, which should be seen as a facilitator and catalyst.

English

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