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USAID Administrator Delivers Landmark Speech on Economic Growth and Global Poverty Reduction

FOR IMMEDIATE RELEASE
April 18, 2008
Press Office: 202-712-4320
Public Information: 202-712-4810
www.usaid.gov

WASHINGTON, D.C. - U.S. Agency for International Development (USAID) Administrator, Henrietta Fore, delivered the keynote address at today's inaugural Millennium Campus Network conference, part of the Global Poverty Initiative hosted by Massachusetts Institute of Technology. The Administrator outlined USAID's Economic Growth strategy with the goal of reducing poverty worldwide.

"The most powerful means to reduce poverty is rapid, broad-based and sustained economic growth… It is the only sustainable means for countries to generate the resources they need to increase literacy, to improve health, and to address other development challenges, that will allow them to emerge from dependence on foreign aid," said Fore.

USAID's Economic Growth strategy is based on the objective of helping its partner countries to achieve economic growth of at least two-percent per capita, per year. In order to achieve this goal, USAID economic growth programs will seek to support systemic reforms of the policies and institutions that drive growth and that can mobilize much larger savings and investment by others. The strategy supports initiatives to develop well-functioning markets, improve access to productive opportunities for the poor, women and other disadvantaged groups, and to strengthen the international framework of policies, institutions and public goods that promote growth in poor countries. USAID's goal is to achieve large and systemic impacts that result in economic growth that affects thousands of businesses and millions of people.

The Millennium Campus Network is (MCN) is an organization of university student groups committed to promoting sustainable international development. Member organizations of the MCN are actively engaged in projects to eradicate extreme poverty in the spirit of the UN Millennium Development Goals.

For more information about USAID and its Economic Development programs, visit www.usaid.gov.

The American people, through the U.S. Agency for International Development, have provided economic and humanitarian assistance worldwide for nearly 50 years.

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