Yesterday, IGD and Oxfam America presented a CEO roundtable on the importance of improving the effectiveness of U.S. foreign assistance. Former Cummins President & COO Joe Loughrey and Indiana business leader, former Executive Director of the United Nations World Food Program and IGD partner Jim Morris hosted the event, which featured Congressman Mike Pence and select Indiana business executives.
Discussion focused on the outdated Foreign Assistance Act of 1961 and economic opportunities for Indiana business leaders that would arise from economic growth in developing countries. In a television interview, Loughery remarked:
“If the United States can get due and correct credit for promoting a development strategy that increases economic growth and reduces poverty, then there’s going to be more opportunity for American businessmen to take advantage of the increasing numbers of people who increased their purchasing power.”
Members of the Indiana business community committed to support comprehensive reform of U.S. foreign assistance to promote humanitarian, security and business interests. Their recommendations for conscientious reform echo the key points of IGD’s Business Case for Foreign Aid Reform, which argues that applying fundamental business principles to foreign assistance will in return give immense value back to business.
Watch television interview with Joe Loughrey
