Partnership for Central America announces $1 Billion in new commitments with Vice President Harris

Partnership for Central America announces $1 Billion in new commitments with Vice President Harris

Today, Vice President Kamala Harris and the Partnership for Central America (PCA) revealed a sum exceeding $1 billion in fresh investments from the private sector. This contribution forms a crucial part of Central America Forward (CAF), a collaborative effort between the public and private sectors that was established in reaction to the Vice President’s appeal to take action for Northern Central America.

Key points

  • Since May 2021, the combined value of new commitments has surpassed $5.2 billion.
  • Over 50 companies and organizations have pledged their support for fostering inclusive economic growth.
  • These investments will generate employment opportunities, enhance digital connectivity, and uplift economic well-being.
  • The newly announced commitments encompass a wide range of sectors, including agriculture, financial inclusion, steel production, small and medium enterprises (SMEs), youth training, and more.

Fresh pledges

  • Acceso plans to make a $3.6 million investment in El Salvador, Guatemala, and Honduras to strengthen local food systems.
  • Banco Cuscatlan is set to invest more than $30 million in promoting financial inclusion in El Salvador.
  • Corporación AG aims to inject over $150 million into Guatemala’s economy, generating employment opportunities.
  • Ficohsa will increase its SME loan portfolio by $490 million, with a focus on supporting women-led businesses.
  • JA Worldwide will provide skills training to over 1,800 vulnerable girls.
  • Meta plans to train 250,000 youth and entrepreneurs.
  • Pearson will enhance the skills of English language learners.
  • Pantaleon is set to invest over $42 million in Guatemala.
  • Conecta is planning an investment of over $260 million in electrical power transmission in Guatemala.

Impact

  • Focus on financial inclusion, skilling, job creation, digital access, and supporting entrepreneurs.
  • Additional initiatives include promoting good governance, supporting a service corps, and boosting remittance transfers.

These investments are generating concrete opportunities for families and communities, benefiting students, employees, entrepreneurs, and households, while also establishing a model that mobilizes private sector commitments to fuel economic development.

These pledges demonstrate a strong dedication to sustainable growth and inclusive development in the region, tackling essential issues such as job creation, digital access, and financial inclusion. The partnership serves as a prime example of the transformative potential that arises from the collaboration between government and private sector entities, working together to foster positive change and construct a more prosperous future for Central America.

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Kyle C. Garrison

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