11/28/2009 05:12 am ET Updated May 25, 2011

Clinton Global Initiative Raises Over $8 Billion For Philanthropic Efforts

NEW YORK - The Clinton Global Initiative gathered more than $8 billion in pledges at this year's summit, surprising its organizers who had worried that the recession would lower the level of support.

The philanthropic effort started by former President Bill Clinton aims to tap wealthy donors for funds to try to solve some of the world's most pressing problems, from poverty to climate change.

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