Fact sheet: Financing for development - U.S. government development priorities

The White House outlines several takeaways from the third international Financing for Development Conference (FFD3) in a fact sheet.

"Over the last four days, representatives from the White House, the Departments of Treasury and State, USAID, as well as from the Overseas Private Investment Corporation (OPIC) and the Millennium Challenge Corporation (MCC) have joined Treasury Secretary Jacob J. Lew to lead the U.S. delegation to the third international Financing for Development Conference (FfD) in Addis Abba, Ethiopia. FfD is focused on reinvigorating and strengthening financing for development across the international community, as well as to assess progress made and steps forward in our efforts to promote international development cooperation.

While we recognize the considerable progress achieved since the first international conference on Financing for Development in Monterrey, notably in halving rates of extreme poverty, too many people have been left behind in what must be the global pursuit of prosperity and opportunity for all.

Today, private investment capital comprises a much larger share of total development finance than ODA, and the Obama Administration is effectively using all of our development finance tools as a catalyst to mobilize private capital for development. Building on our longstanding leadership and commitment to development, the United States announced new partnerships at the Financing for Development Conference to mobilize domestic resources, expand Power Africa, combat illicit finance and enhance our collective ability to generate and utilize open data as a tool for development."