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The US State Department is pursuing a strategy of using US social impact investing as a diplomatic tool.
A new program dubbed “Smart Power” is leveraging the diplomatic network and resources of the department with the considerable expertise and assets of the private sector to create market opportunities and profitable solutions to the world’s most pressing problems. This initiative is meant to address social and environmental issues in developing markets by linking government, civil society and private-sector partners around common goals.
By encouraging collaboration on market solutions with social benefit, they are especially focused on the creation of financial and business innovations that can help to mobilize capital and enable enterprises to scale. Large corporations have a place in this framework as their many assets can be harnessed to create shared value.
