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President Obama released the following announcement on global development from the G8 today:

A New Approach to Advancing Development

At the Muskoka G8 Summit, President Obama outlined his views on a new approach to development.  In his recently released National Security Strategy, development is recognized as a moral, strategic, and economic imperative for the United States and our partners.  Development, diplomacy, and defense are components of a comprehensive, integrated approach to the challenges we face today.  Countries that achieve sustained development gains make more capable partners, can engage in and contribute to the global economy, and provide citizens with the opportunity, means and freedom to improve their lives.

President Obama launched a study of U.S. development policy in September 2009 and will be issuing a new policy directive in the near future.  The new U.S. development policy builds on two signature initiatives launched by the Obama Administration in 2009 to focus on results-based, strategic investments aimed at promoting meaningful and lasting results:

• Feed the Future: At the London G20 Summit in 2009, President Obama announced a global food security initiative that has the support of the world’s major and emerging donor nations, includes strong roles for our multilateral institutions, and is led by partner countries that are ready and willing to develop comprehensive plans and commit their own resources to agricultural and market development.  Secretary Clinton launched the comprehensive U.S. strategy – “Feed the Future” – to implement this groundbreaking effort in May 2010.   To date, the United States has led international efforts to review nine comprehensive country strategies, commit new resources in support of those strategies, collaborate in the establishment and initial capitalization of the World Bank-led Global Agriculture and Food Security Program, and launch a new research and development program.

• Global Health Initiative: In May 2009, President Obama announced the Global Health Initiative (GHI), which builds on the progress and success of PEPFAR (the President’s Emergency Program on AIDS Relief) and also expands our global health effort and impact by including investments to strengthen health systems, improve maternal child health, address neglected tropical diseases, and foster increased research and development.  The GHI will integrate our health programs in order to reduce inefficiencies and expand impact, and is designed to save lives and achieve sustainable outcomes.  This new, integrated approach will be fast-tracked in eight countries.

President Obama’s new development policy will:

• Foster the Next Generation of Emerging Markets: The U.S. will intensify efforts to promote sustainable economic development and support good governance by making targeted investments in countries and/or regions where the conditions are right for progress.

• Invest in Game-Changing Innovations: By leveraging the power of research and development, the U.S. will work to create and scale-up technologies for health, green energy, agriculture, and other development applications.

• Meet Basic Human Needs in a Sustainable Fashion: The U.S. will continue to be a global leader in the meeting of basic human needs, but will place increasing emphasis on building sustainable public sector capacity to provide basic services over the long-term.

• Tailor Development Strategies: The U.S. will tailor development strategies in countries in or recovering from conflict to reflect the unique conditions on the ground, and will join efforts to promote stabilization and achieve security with those designed to promote our long-term sustainable development goals.

• Hold all Aid Recipients Accountable: The U.S. will seek sustained development progress in all countries receiving U.S. economic assistance by placing a greater focus on policy reforms key to development.

In addition, in pursuing these objectives, the U.S. will pursue a new approach to development that:

• Is More Selective: The U.S. will seek a division of labor with other donors and focus its efforts on select countries, regions, and sectors - while ensuring critical development needs are met.

• Leverages other Donors, Philanthropy, Diaspora and the Private Sector: The U.S. will seek a division of labor with other donors and make a concerted effort to partner with other actors to leverage U.S. investments.

• Underscores Country Ownership and Mutual Accountability: The U.S. will place a premium on partnering with countries that are well governed and will work to strengthen their institutions and support their development strategies.

• Strengthens Multilateral Capabilities: The U.S. will support multilateral development capabilities and support key reforms and the creation of new capabilities, where required.

• Drives Policy with Analysis: The U.S. will adopt metrics and set in place rigorous standards for monitoring and evaluation, and use data and analysis to drive decision-making.