Sept. 22 (Bloomberg) -- President Barack Obama said today that assistance to developing countries can spur U.S. economic growth and announced an overhaul of U.S. foreign aid policy that focuses on helping foreign economies develop over the long-term.
In our global economy, progress in even the poorest countries can advance the prosperity and security of people far beyond their borders, including my fellow Americans, the president said in remarks at the United Nations in New York.
The new policy is rooted in America's enduring commitment to the dignity and potential of every human being, Obama said at a summit on the U.N.'s Millennium Development Goals, a 15- year plan to halve poverty around the world by 2015.
Several development goals have been reached already, Obama said, including advancing education, reducing cases of HIV/AIDS, tuberculosis and malaria, and improved access to drinking water.
Michael Froman, Obama's deputy national security adviser for international economics, told reporters in a conference call that future U.S. aid will focus on countries that have shown progress in meeting goals. He said encouraging stable markets abroad for U.S. exports is a core part of our national security.
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I'm sure the countries that don't have good enough drinking water are going to be buying US exports...!?
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