[Public Papers of the Presidents of the United States: George W. Bush (2008, Book II)]
[November 26, 2008]
[Pages 1400-1401]
[From the U.S. Government Publishing Office www.gpo.gov]



Message to the United Nations International Conference on Financing for 
Development in Doha, Qatar
November 26, 2008

    I send greetings to those gathered for the UN International 
Conference on Financing for Development in Doha, Qatar. Six years ago, I 
joined leaders from 50 countries at the United Nations Conference on 
Financing for Development at Monterrey, Mexico to forge a new 
partnership for development. That partnership was based on a consensus 
among the world's nations that development is in the common interest of 
humankind. The most effective way to raise the living standards of the 
world's poorest people is to create economic growth by using all forms 
of development finance--including trade, investment, grants, and 
lending--in countries that govern justly, invest in their people, and 
encourage economic freedom. Today in Doha we should reaffirm our 
commitment to the development principles agreed upon at Monterrey.
    The world's economic growth is currently threatened by a global 
financial crisis. The world's poor are the most vulnerable to the 
crisis, with low or no savings or assets to weather the turmoil. In many 
countries, the financial crisis is leading to rising unemployment, 
business failures, and economic hardship.
    The United States will not abandon its commitments to people in the 
developing world in the midst of this financial crisis. The United 
States calls on other economies, both developed and emerging, to 
similarly reaffirm and fulfill their commitments to development and 
assist the world's poorest, consistent with their roles in the global 
economy. The United States pledges to assist developing and emerging 
economies in gaining access to finance and pledges to help ensure that 
the International Monetary Fund, the World Bank, and other multilateral 
development banks have the resources to assist countries in crisis.
    The nations of the world are increasingly interdependent. With 
interdependence comes mutual responsibility and accountability. Our ties 
of trade, finance, and development should be strengthened, not weakened 
by the current market turmoil. The development principles of Monterrey 
provide us with a proven path to prosperity and partnership. Let us join 
together today in reaffirming that partnership.

                                                          George W. Bush

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