U.S. Policy & Issues
Development
The United States is deeply committed to helping the world’s developing countries grow out of poverty. President Bush has made it clear that expanding the circle of freedom and prosperity is in the fundamental interest of the United States and all nations around the world. No nation contributes more total resources to international development than the United States.
The U.S. approach to development assistance builds on the Monterrey Consensus, articulated at the International Conference on Financing for Development in Monterrey, Mexico in March 2002, which emphasizes national responsibility, rule of law, governments accountable to their people, and sound economic policies.
Basic tenets of the Monterrey Consensus are:
Each country is responsible for its own economic development. Each country must devise and implement its own policies, in line with its international obligations, that create the conditions for development and growth.
Governments must adopt sound economic policies and create responsive democratic institutions. Good governance, observance of human rights, and a vibrant private sector help create the necessary conditions for economic growth.
To achieve sustainable growth, countries must utilize all development resources - including trade, foreign and domestic investment, domestic savings, private donations, and remittances - as well as official assistance.
Two-Track Approach
Working in partnership with the recipient countries, the U.S. provides official development assistance (ODA) through bilateral programs and multilateral institutions to finance specific development programs and projects. The U.S. supports increased assistance to developing countries that have demonstrated that they can use that aid effectively.
The U.S. also works for reforms in the international trade system to remove barriers so developing countries can more readily compete and grow through their own efforts.
U.S. Policies
