The President’s speech, cited verbatim, covers foreign assistance program achievements over the past eight years, as well as the new approach to development embodied by a revolutionary initiative called the Millennium Challenge Account, a robust program that has invested $6.7 billion in 35 countries around the world.

Among the highlights:

“This administration has made international development one of our biggest priorities. For too long, foreign aid was designed to make us feel good. Now, we're ensuring that our resources do good."

“We say to those we want to help support, open markets to trade and investment, and above all, invest in your people's health and education. You see, by tying our aid to these policies, we are encouraging developing nations to make tough economic and political and social reforms.”

“This approach is based on a clear conviction: People in the developing world have the capacity to improve their own lives -- and they will rise to meet high standards.”

President Bush addressed the global food crisis and the issue of crops grown with biotechnology. He talked of the accomplishments and new initiatives for extending education, disease prevention and healthcare, and the importance of developing free trade.

The President concluded by urging the G8 and the United Nations, and fellow contributors to the Global Fund, to follow through on their pledges, and corporations and foundations that have shared their resources and expertise with the developing world to continue in their efforts to help.