President Obama issued a directive for U.S. development policy in September 2010, which called for social and political reforms as a prerequisite for foreign assistance, along more investment from the private sector. And, only one year into the project, U.S. government executives at a Washington conference Jully 12 reported on genuine progress.
A few decades ago, U.S. government assistance made up 70 percent of the funds going from this country overseas, Littlefield said.
“And now today, it’s completely reversed. Eighty percent of the money flowing from the [United States] to the developing world is private capital,” said the president of OPIC, a government agency providing loans and investment insurance to American businesses operating overseas.