Vice President Kamala Harris and the Partnership for Central America (PCA) today announced more than $1 billion in new private sector commitments, as part of Central America Forward (CAF), a public-private partnership that was created in response to the Vice President’s Call to Action for Northern Central America.
Main highlights
- Since May 2021, the cumulative value of new commitments has surpassed $5.2 billion.
- Over 50 companies and organizations have pledged their support towards fostering inclusive economic growth.
- These investments will generate employment opportunities, enhance access to the digital economy, and uplift economic well-being.
- The new commitments encompass investments in various sectors such as agriculture, financial inclusion, steel production, small and medium-sized enterprises (SMEs), youth training, and more.
New commitments
- 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.
Effect
- The initiatives aim to prioritize financial inclusion, skill development, job creation, enhancing digital access, and providing support to entrepreneurs.
- Furthermore, there are additional efforts to promote good governance, establish a service corps, and facilitate 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.
