Today, the President transmitted his FY 2011 budget request to Congress. We will be posting expert commentary later this week on reactions to the budget, but in the meantime, please see some highlights:
- $1.6 billion for agriculture development and nutrition programs as part of a multi-year plan to lift people out of poverty and reduce under-five malnutrition for millions of children by 2015, with funding provided through two main channels to poor countries – through bilateral assistance and through a new multi-donor facility administered by the World Bank.
- $8.5 billion to expand the President's Global Health Initiative to save millions of lives and securing our future with smart health and development investments. The President’s Budget expands funding to treat and prevent global HIV/AIDS, implement maternal and child health initiatives to reduce the mortality of mothers and children under five, expand efforts to stop malaria, tuberculosis, and neglected tropical diseases, and enhance capacity and long-run sustainability of local health systems.
- $1.9 billion in annual contributions and arrears to Multilateral Development Banks (MDBs) to help meet the needs of the poorest populations globally, including countries that have disproportionally felt the effects of the global financial crisis.
- $1.4 billion to help developing nations adapt to climate change and pursue low-carbon development with the assistance of U.S.-built clean energy technologies and increased sequestration of carbon stored in soils, plants, and trees.
- $1.3 billion for new Millennium Challenge Corporation compacts in eligible countries, such as Indonesia and Zambia, to reduce poverty and stimulate economic growth.
- $446 million to fund the second year of the President’s initiative to significantly increase the number of Peace Corps volunteers, and keeps the Peace Corps on track to grow by 50 percent so it reaches 11,000 volunteers by 2016.
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