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
- Total new commitments exceed $5.2 billion since May 2021.
- 50+ companies and organizations have made commitments to support inclusive economic growth.
- Investments create jobs, connect people to the digital economy, and improve economic livelihoods.
- New commitments include investments in agriculture, financial inclusion, steel production, 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
- Emphasis on fostering financial inclusion, skills development, job creation, digital accessibility, and entrepreneurial support.
- Supplementary efforts encompass promoting good governance, establishing a service corps, and enhancing 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 dedication to fostering sustainable growth and inclusive development in the region, tackling crucial issues such as job creation, digital accessibility, and financial inclusion. This partnership serves as a prime example of the transformative potential when government and private sector entities come together to bring about positive change and construct a more prosperous future for Central America.
