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Sunday, November 27, 2022

Harris will announce 1,900 million in private investments in Central America | D.W. | 07.06.2022

The Vice President of the United States, Kamala Harris, will announce this Tuesday (06.7.2022), in a meeting with Caribbean leaders, to be held within the framework of the Summit of the Americas, new private investment commitments to create economic opportunities in the north of Central America, worth 1,900 million dollars, advanced an official of his Government.

In a call with the press, that source indicated that this proposal is part of Harris’ plan to tackle the economic and social causes of migration to the United States. The new investments are part of the “Call to Action” plan and come on top of the Vice President’s December 2021 announcement of $1.2 billion in private sector commitments, involving PepsiCo, Microsoft, Nespresso and MasterCard.

Inclusive economic growth against migration

“These are new investments by about ten companies,” including the textile giant GAP, the telecommunications company Millicom or the financial multinational Visa, and they are destined for Honduras, Guatemala and El Salvador, the official explained in a teleconference.

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The Biden-Harris Administration, according to the official, recognizes that long-term development in northern Central America requires more than just the resources of the United States Government.

In addition, the person in charge of dealing with the problems that have generated the massive arrival of immigrants at the US border will call on the private sector to take advantage of its resources and experience to support inclusive economic growth in northern Central America.

Economic empowerment of women in Latin America

Another key item on today’s agenda from President Joe Biden’s right-hand man will be the announcement of new commitments from the US government, private sector companies and organizations to support the economic empowerment of women in Latin America.

The Vice President and the Alliance for Central America will present “In Her Hands,” a private sector initiative to empower, train and protect women in northern Central America and throughout the Western Hemisphere.

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According to the official, this project will connect more than 1.4 million women with the financial system and the digital economy, accelerate the participation of women in agribusiness, train more than 500,000 women and girls in basic job skills and will promote gender parity throughout the region.

Employment generation

Lastly, Harris will present this Tuesday the Central American Service Corps (CASC), a $50 million initiative to be administered by the United States Agency for International Development (USAID) with the aim of give young people from El Salvador, Guatemala and Honduras a path to future employment.

The IX Summit of the Americas began yesterday in the city of Los Angeles amid controversy over the exclusion of Cuba, Venezuela and Nicaragua by the United States, the host country. And the regional migration crisis is a key issue on his agenda.

rml (efe, apf)

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