President Bush announced today that he would offer an extra $5 billion in aid to poor nations that embrace economic and political reforms.
The grants would be doled out over a three-year period starting in the fiscal 2004 budget, and would be linked to progress by developing countries in reforming their economies, rooting out corruption and promoting human rights.
"To make progress, we must encourage nations and leaders to walk the hard road of political, legal and economic reform so all their people can benefit," said Mr Bush, who was joined by U2’s Bono at the Inter-American Development Bank, where he made the announcement.