The site will cover topics such as poverty, hunger and infant mortality and aims to hold governments and NGOs accountable for the implementation of the United Nations millennium development goals - a commitment made by 192 countries in 2000 to eradicate problems such as extreme poverty by 2015. It will sit on The Guardian's main site.
Alan Rusbridger, editor-in-chief at GNM, said long-term development stories are often neglected in the mainstream press. "It is essential to have a place where some of the biggest questions facing humanity are analysed and debated, and through which we can monitor the effectiveness of the billions of pounds of aid that flows annually into the developing world," he added.
A spokesperson from the Bill & Melinda Gates Foundation said it was excited to be working with The Guardian on the project.
The website will feature articles from Guardian writers and is being supported by more than 20 of the world's leading development experts, including Nobel prize winner Amartya Sen and American economist and Director of the Earth Institute at Columbia University, Jeff Sachs.