Cashew processing training in Guinea. Funded by USAID, the project aims to assist in the development of a cashew processing industry by introducing improved methods and technologies and creating sustainable commercial links among small processors, commercial distributors and local equipment suppliers. Enterprise Works Worldwide
Economic growth provides citizens and governments with the resources needed to meet needs and aspirations, including improved education, health, peace and security, via an international economic system that is open, free, transparent and fair. The Department and USAID share the goal to strengthen world economic growth and protect the environment, while expanding opportunities for U.S. businesses and working to help countries spark and sustain transformative economic growth. The Department plays a lead role in implementing President Obama's National Export Initiative (NEI) by advocating on behalf of American companies with other governments for fair treatment, transparency, and maximum opportunity in competitive global markets. And under Presidential Policy Directive 6, USAID is working to empower private entrepreneurs, workers, and enterprises to take advantage of expanding opportunities in a global economy. By embracing business transparency efforts, such as patent protection and intellectual property rights, foreign countries become an attractive market for the products and services of U.S. workers and companies.
The Department and USAID allocated $5.587 billion toward this Strategic Goal in FY 2011, which is 12 percent of the total State-USAID budget for all strategic goals. The Department and USAID met or exceeded targets for 53 percent of performance indicators for Strategic Goal 4. Six percent of indicators were below target, and 3 percent of indicators improved, but did not meet targets. Ratings were not available for 38 percent that are new indicators or data are not yet available.
Experience demonstrates that liberalized trade regimes, transparent, effective and accountable governments, fair rules for business, and friendly market policies all contribute to greater economic growth. The Department and USAID programs are targeted at assisting countries to make the economic reforms necessary for sustainable growth to occur. As shown at right, except in the areas of trade liberalization and budget balance, the scores of the top 20 beneficiaries of U.S. assistance (blue) in the areas facilitating economic development rank considerably lower than a select group of countries that have graduated from U.S. Government assistance (red)1. The countries are ranked on a scale of one to five, where five represents the performance of the best country in the world in each area. Efforts to close those gaps are yielding results, as noted below.