The White House announced on Monday substantial investments in part of Central America, with which it seeks to create employment opportunities, especially in Guatemala, Honduras and El Salvador, and thus reduce irregular migration to the United States.
Vice President Kamala Harris and the Alliance for Central America (PCA) said more than $1 billion in new commitments will be available as part of the Central America Forward (CAF) public/private partnership.
Vice President Harris, who leads this initiative, announced that with this new announcement, $5.2 billion in private sector commitments have already been made in Guatemala, Honduras and El Salvador, since May 2021.
These new commitments include 50 companies focused on supporting inclusive economic growth in the region.
The companies involved represent different sectors such as financial, textiles, agriculture, technology, telecommunications, nonprofit organizations and manufacturing, the White House said in a fact sheet.
“These investments are materializing in tangible opportunities for families and communities through integrated supply chains in Central America and the United States (benefiting students, employees, entrepreneurs and families) and shaping a model to mobilize private sector commitments to through collective action to boost economic development,” the statement said.
He added that the investments framed in this initiative are “connecting people with the digital economy” while expanding access to financing for small businesses, providing training and education to young people and women.
Companies involved
The companies involved in this new announcement from the White House – which is known when Vice President Kamala Harris receives the president of Guatemala, Bernardo Arévalo, to discuss progress on the immigration issue – come from the US, Central America and other regions.
In the Central American case, they joined Banco Cuscatlan, which committed to investing more than 30 million dollars in El Salvador in the next five years, mainly for financial inclusion initiatives; Corporacion AG, the largest steel producer in Central America, plans to invest more than 150 million in Guatemala to increase its production and distribution capacity, which it hopes to generate hundreds of jobs.
Ficohsa, an important provider of financial services in the region, also did so, which will increase its lines of credit to small and medium-sized businesses, prioritizing those led by women; Pantaleon, an industrial organization that is about to inaugurate an industrial park in Guatemala.
In addition, Meta, the company that owns Facebook, WhatsApp and Instagram, has committed to training young people, entrepreneurs and small business owners in the three countries of the plan.
Companies in agribusiness, energy, digital markets and education are also part of the program.
Connect with the Voice of America! Subscribe to our channels Youtube, WhatsApp and to newsletter. Turn on notifications and follow us on Facebook, x and instagram.
