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September 23, 2010

Vowing Foreign Aid Reform, Obama Pushes Foreign Investment
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Earlier in the day, Obama appeared before the UN with a vow to reshape
how the US delivers foreign aid. Obama criticized what he called an aid
culture of "dependence" and said the US will encourage foreign
investment as a means to spur development and sustainability.

President Obama: "Consider the millions of people who have relied on
food assistance for decades. That’s not development, that’s dependence,
and it’s a cycle we need to break. Instead of just managing poverty, we
have to offer nations and peoples a path out of poverty. We know that
countries are more likely to prosper when they encourage
entrepreneurship, when they invest in their infrastructure, when they
expand trade and welcome investment. So we will partner with countries
like Sierra Leone to create business environments that are attractive to
investment."



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