A few overarching key messages stood out:

• As the development landscape evolves and budgets shrink, investing in good practice becomes more—not less—important. There was a strong call for learning from experience and expanding the evidence base across all thematic strands. At a time when our sector is undergoing profound change, the DCED’s role in creating a space for honest dialogue, collective learning and a shared, evidence-based understanding of good practice is more important than ever.
• There is a strong drive across different PSD communities to work more systemically. For that to happen, we need to build stronger coalitions and break down siloes – between diverse donors, implementers, financiers, researchers, and other partners – if we are to respond effectively to a rapidly changing environment. Witnessing the interactions between the diverse mix of participants at this Seminar was very encouraging.

Below are more detailed headlines per thematic strand. For a more detailed insights, read the full summary report.

1. Implications of the fast-changing funding landscape for working systemically

Key takeaways included the need for realistic minimum funding for market systems development, caution about co-funding without a shared strategic vision, and the importance of adapting implementers’ business models while preserving long-term commitment to inclusive systems change. The DCED will step up efforts to share lessons in this space and, together with existing members, connect with new funders to exchange on effective practice.

2. Mutual benefits and synergies between trade and PSD

Aligning donor-country interests with development objectives presents both opportunities, including a shift to equal economic partnerships, and risks – in particular, the exclusion of low-income communities and sectors, and a drift towards tied aid. The DCED will continue to help donors navigate this agenda by publishing the results of an ongoing review of experiences, and focus on sharing lessons on ways to maintain development effectiveness.

3. Creating markets for SME finance

The future of SME finance and efforts to bridge the ‘missing middle’ lies in market creation—bringing together systems development and finance to build markets that work for underserved businesses. This means shifting from isolated funding instruments to coordinated, catalytic approaches that strengthen both financial institutions and the broader ecosystem supporting SMEs. The DCED’s new SME Finance Community of Practice will serve as a shared forum for donors, DFIs and practitioners to find a shared language and collaborate on this agenda.

A key takeaway from the MSD discussions was that the approach continues to evolve, with growing application across SME finance, impact investing, green growth and fragile contexts, while remaining grounded in its core principles of systemic change. Participants also challenged common misconceptions, highlighting strong evidence that effective public-sector partnerships are not only compatible with MSD but are often essential for achieving lasting, large-scale impact. The DCED’s BEAM Exchange and MSD Community of Practice will take these discussions forward and engage with other communities on how to work systemically.

5. The next generation of systemic Green PSD programmes

Achieving a green and just transition requires more than adding environmental objectives to existing programmes—it demands clear strategic priorities, a deep understanding of local market systems and commercial incentives, and coordinated action across finance, policy and business ecosystems. Participants also stressed the importance of openly acknowledging and managing trade-offs between environmental and socioeconomic outcomes, with explicit priorities guiding decisions to maximise long-term systemic impact. The DCED will continue to drive a better understanding of effective practice, in particular through its MSD and Green Growth Communities of Practice.

6. Market Systems Development in contexts of fragility and conflict

The question is no longer whether MSD belongs in the growing number of global crisis contexts, but how it can work alongside humanitarian action to strengthen resilience and reduce long-term dependency. Participants also challenged the field to be more ambitious, recognising that achieving transformative change requires engaging with power dynamics, political realities and risk, not avoiding the sectors where these challenges are greatest. As this conversation evolves, the DCED’s BEAM Exchange looks forward to sharing the growing body of lessons and evidence on how humanitarian action and MSD can work together.

Inclusion is fundamental to systemic PSD. Even in difficult political and funding environments, leaders have the agency to drive meaningful change through everyday decisions and practical action. Unlocking opportunities for women also requires a more holistic view on interconnected market systems—from recognising the care economy as critical economic infrastructure to connecting early-stage business support with gender-smart finance so more women-led enterprises can access investment and grow. Both topics remain a central focus of the DCED’s WEE Community of Practice.

8. Results measurement and evidence

Funders and programmes shared their experiences with robust monitoring, evaluation and learning (MEL), which is more important than ever for demonstrating impact, improving programme effectiveness and informing smarter investment decisions. There is a particular urgency to improve how the PSD practitioners measure and learn about climate and environmental outcomes. Going forward, the DCED will continue to set the standard for credible monitoring, evaluation and evidence generation and promote the adoption of good practices among funders and practitioners. The DCED will also make PSD evidence centrally available through the forthcoming, updated DCED Evidence Framework.