India a major contributor to world development: Clinton

WASHINGTON: US Secretary of State Hillary Clinton today said that countries like India are emerging as major contributors to global development efforts which has emerged as a key foreign policy tool.

"New countries are emerging as important contributors to global development, including China, Brazil, and India - nations with the opportunity to play a key role, and with the responsibility to support sustainable solutions," she said.

"Long-time leaders like Norway, Sweden, Denmark, the Netherlands, the UK, Japan, and others continue to reach billions through their longstanding work in dozens of countries," she said in a speech 'On Development in the 21st Century'.

Multilateral organisations like the World Bank, the IMF, the UNDP, the Global Fund to fight AIDS, Tuberculosis, and Malaria have the reach and resources to do what countries working alone cannot, along with valuable expertise in infrastructure, health, and finance initiatives, she said.

Non-profit organisations like the Gates Foundation, CARE, the Clinton Foundation, Oxfam International, networks of NGOs like InterAction, as well as other smaller groups like ACCION and Transparency International bring their own resources, deep knowledge, and commitment to humanitarian missions that complement our work in critical ways.

"Some foundations are combining philanthropy and capitalism in a very innovative approach, like the Acumen Fund," she said.