must be reduced in a sustainable way. Finally, the prospects for people in crisis-hit regions of the Middle East should be improved. Development cooperation – high-profile, interest-led and focused Development cooperation is both an expression of Switzerland’s solidarity and part of its interest-driven policy approach. Establishing clear links between development cooperation and Switzerland’s own interests will help to boost domestic political acceptance of the former. The principle that development cooperation is a foreign policy instrument should be given greater emphasis. This will require action at the FDFA head office, in terms of communication and on the actual form of development cooperation. The stronger focus on geographical and thematic priorities is an important step towards making development cooperation even more effective and giving it greater political support within Switzerland. In 2016/17, the 20 countries that benefited most from Swiss bilateral development assistance accounted for 24% of total development assistance expenditure. This percentage should be significantly higher in 2028. Bilateral development cooperation should focus on regions whose political and economic stabilisation creates maximum leverage for the countries concerned, as well as for Switzerland. Priority consideration should be given to Europe’s southern and eastern neighbourhoods, namely Africa, the Middle East, the Western Balkans and Eastern Europe. In these focus regions, Switzerland’s security, economic and migration interests converge. The prosperity gap between Africa and Western Europe Greater weight on economic development The private sector creates 90% of all jobs worldwide and plays a crucial role in tackling poverty. Sustainable economic growth is the best way to reduce poverty. There is no magic formula for achieving this, but a key ingredient is promoting local entrepreneurship and innovation. Switzerland should focus more on sustainable local economic ecosystems by working with international companies and NGOs and engaging closely with the state-owned Swiss Investment Fund for Emerging Markets (SIFEM), which aims to give local SMEs access to capital and expertise. As an umbrella fund, SIFEM invests primarily in other funds. Another model worth exploring for Switzerland is that of the Dutch development bank FMO, which invests directly in the private sector in 85 developing countries and emerging markets, mainly in infrastructure, microfinance and sustainability. The aim of such public investment is to enable, rather than to replace, private investment. SIFEM’s capital base is small by international standards. It would need to be increased as the fund develops. Africa needs jobs Africa needs jobs Forecast share of world total of working age population (15–64) by region (percentage) 70 60 50 40 30 20 10 0 1950 1965 Africa 1980 Asia 1995 2010 Europe 2025 2040 2055 2070 2085 2100 Latin America and the Caribbean Source: UNCTAD Economic Development in Africa Report 2018 2028 Foreign Policy Vision 28