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Skriven 2007-05-31 23:30:58 av Whitehouse Press (1:3634/12.0)
Ärende: Press Release (070531e) for Thu, 2007 May 31
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Fact Sheet: Commitment to International Development
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For Immediate Release Office of the Press Secretary May 31, 2007
Fact Sheet: Commitment to International Development
ÿÿWhite House News
Today, President Bush spoke about the Administration_s commitment to
international development. The President discussed expanded education for
the world_s poorest children and Africa Financial Sector Initiative, and
called on Congress to fully fund his foreign assistance budget request in
FY2008.ÿ
þ President Bush committed to expand assistance for education in the
world_s poorest countries.ÿOur investment in disadvantaged children
will help foster the development of stable and productive environments
where social justice, economic development, and democratic principles
thrive.
þ President Bush announced the Africa Financial Sector Initiative (AFSI)
to strengthen financial markets, mobilize domestic and foreign
investment, and help spur job creation and economic growth.ÿThis
initiative is expected to mobilize up to $1.0 billion in
privately-managed investment funds for Africa and provide expert
technical assistance specifically tailored to help address structural
impediments in Africa_s financial sector.
Expanding education and developing the private sector are two essential
long-term investments that can help break the cycle of poverty in the
word_s poorest countries.
President Announces Expanded Education for the World_s Poorest Children
Today, President Bush committed to expand assistance for education in the
world_s poorest countries.ÿ The U.S. will establish a new after-school
skills development program, Communities of Opportunity, for young girls and
boys.ÿ The U.S. will also expand support for other new basic education
activities to ensure that children have access to quality schooling.ÿ
Additional U.S. funding will total $525 million over five years.
þ The President will work closely with Congress to implement this new
transformational approach to promoting education in poor countries.
þ A new Coordinator for Education, based at the U.S. Agency for
International Development, will direct a strategic use of resources
that builds on America_s current support for basic education, child
health, and nutrition overseas.ÿ Resources will be targeted to
countries that demonstrate a strong commitment -- including Fast Track
Initiative endorsed education plans, financial transparency, and
increased government spending on education.ÿ
þ Education promotes progress, reduces poverty, and helps girls and boys
become productive and active citizens.ÿ It allows women to fully use
their talents to build just and innovative societies.ÿ Moreover,
education offers opportunity and counters the forces of extremism and
violence.ÿ
A Transformational Approach To Education
The approach will build upon the Administration_s existing efforts by:
þ Providing up to 4 million more children with access to quality basic
education through comprehensive programs in a select number of initial
target countries;
þ Giving 100,000 at-risk youth extra training in English, computer
skills, science, math and finance, and critical thinking through
_Communities of Opportunity_;
þ Coordinating with child health interventions -- including school
feeding and vaccinations -- in support of broader basic education and
training activities; and
þ Establishing partnerships in support of targeted interventions with
local communities, parents, and the private sector -- including
business and non-government organization leaders.
The Africa Financial Sector Initiative Strengthens And Mobilizes Funding
And Markets
To strengthen and deepen African capital markets, the Overseas Private
Investment Corporation (OPIC) will support the creation of several new
private equity funds that may mobilize up to $800 million of additional
investment in Africa. ÿThis investment will address critical gaps in the
sources of financing available to African businesses.ÿ The financial
community submitted 25 proposals to OPIC for consideration pursuant to its
recently completed Africa Capital Markets Call for Proposals.ÿ By September
2007, OPIC will select funds to support based on its assessment of
developmental impact and potential for success.ÿ These dedicated funds
will:
þ Offer new financial instruments and services to African businesses,
such as long-term debt, local currency debt, mezzanine financing,
securities underwriting, and corporate bond issuance.
In addition, on June 6, OPIC will issue an innovative call for proposals
seeking private equity funds to provide capital to businesses serving
important social needs in Africa and contributing to the grass roots
development of its private sector. ÿThese dedicated funds will:
þ Provide capital to businesses in sectors with a high developmental
impact, such as water, healthcare, small and medium enterprise
development, and education.ÿÿ
þ Attract investors that prioritize both financial and social returns.ÿ
To date, OPIC has supported four Sub-Saharan Africa investment funds that
will mobilize roughly $1.9 billion in private investment over time.ÿ
AFSI technical assistance will help to improve financial sector climates
with the goal of facilitating increased domestic and international
investment.ÿ Activities will:
þ Strengthen country and regional debt markets by providing up to 10
Treasury Department advisors over the FY08-10 period.ÿ
þ Launch remittance programs in Nigeria and West Africa through USAID to
increase private sector competition, lower the cost of remittance
transfers, and bring the un-banked into the formal financial system.
þ Provide training through FDIC for banking regulators in order to
improve the security and stability of the region_s financial systems.ÿ
þ Develop payment systems and credit bureaus through USAID to support
local retail and commercial banking.
Keeping Pledges On Development
At the Monterrey U.N. Conference for Financing for Development in 2002, the
President proposed a 50-percent increase in our core official development
assistance over the next three budget years.ÿ Starting from a base of $10.0
billion in 2000, the United States surpassed its Monterrey commitment in
2003 when official development assistance levels increased to $16.3
billion.ÿ
The 2006 preliminary estimate from the OECD Development Assistance
Committee of $22.7 billion in official development assistance is the second
highest annual expenditure ever provided by any donor country after the
U.S. level of $27.6 billion in 2005. Preliminary 2006 ODA statistics on
bilateral U.S. aid show:
þ Aid to the Least Developed Countries was a record $5.5 billion.
þ Aid to Sub-Saharan Africa increased by $1.4 billion, or 33%, to a
record $5.6 billion.
þ Aid to Latin America increased from $1.3 billion in 2005 to $1.6
billion
þ Aid to South/Central Asia increased to $2.8 billion from $2.6 billion.
At the Gleneagles G8 Summit in 2005, President Bush announced that the
United States would double assistance to Sub-Saharan Africa between 2004
and 2010 to $8.67 billion. The United States is on track to meet that goal
with a preliminary estimate of $6.5 billion of bilateral and multilateral
assistance in 2006.
In 2002, the President announced the Millennium Challenge Account, devoted
to projects in nations that govern justly, invest in their people and
encourage economic freedom.ÿÿSince then, the MCA has put this pledge into
practice signing compacts and threshold programs worth over $3 billion.
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