So what do Walmart and USAID have in common? That was a question we at Walmart asked ourselves several years ago.

Well, for starters we both can be found all over the globe, but what else? We both work with farmers and business owners—USAID through sustainable development efforts and Walmart through our supply chain. We both have demonstrated a commitment to community-oriented solutions that solve big problems. And perhaps most importantly, like USAID, Walmart believes that businesses have an important role to play in advancing the economic development of the communities we serve around the world.

(From L-to-R) Mike Duke, President & CEO, Walmart; Dan Bartlett, Executive Vice President of Corporate Affairs, Walmart; Rajiv Shah, Administrator, USAID

That’s why today Walmart, the Walmart Foundation, and USAID signed a new global Memorandum of Understanding (MOU) to work even closer together on our common goals. You see, Walmart and USAID share the same approach to doing business, believing in the power of partnerships, leveraging assets, and maximizing resources.

Walmart’s global initiatives often have a development goal, and we are excited to work alongside USAID on Women’s Economic Empowerment, Farmer Training and Sustainable Agriculture, and Vocational and Youth Skill Training. Whether it’s our initiative to train one million farmers or to double our sourcing from women-owned businesses, the goal is to help farmers and women access modern supply chains, increase their income, and in turn, contribute to the economic development of their communities.

By working hand-in-hand with the USAID Forward initiative, Walmart will be able to leverage and scale existing programs while allowing us to maximize one another’s expertise. In Central America, while USAID helps train farmers on agricultural standards and how to produce more in their harvests, Walmart can determine the right assortment and timing for farm products we need in our stores. It’s a win-win as farmers have a sustainable income from their work, Walmart has access to locally grown fruits and vegetables, and consumers in the region have the products they want.

Last year alone, Walmart purchased $75 million in produce from 3,400 small and medium-sized farmers and their families, accounting for 35 percent of fruit, grain, and vegetables sold in our stores across Central America.

We look forward to strengthening our partnerships with U.S. development programs as we continue to invest in emerging markets. We believe there will be new opportunities to leverage the Feed the Future initiative to assist more African farmers in providing for their families, serving as another effective example of just how much a difference public-private partnerships can make.

This is truly doing good by doing well, and it’s important for building our economy here at home, providing opportunity in struggling communities around the world, and in creating a better, safer world.