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.
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.
Fresh Pledges
- Acceso to invest $3.6 million in El Salvador, Guatemala, and Honduras to strengthen local food systems.
- Banco Cuscatlan to invest over $30 million in financial inclusion in El Salvador.
- Corporación AG to invest over $150 million in Guatemala, creating jobs.
- Ficohsa to increase their SME loan portfolio by $490 million, prioritizing women-led businesses.
- JA Worldwide to provide skills training to over 1,800 vulnerable girls.
- Meta to train 250,000 youth and entrepreneurs.
- Pearson to upskill English language learners.
- Pantaleon to invest over $42 million in Guatemala.
- Conecta to invest 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.
The commitments underscore a commitment to sustainable growth and inclusive development in the region, addressing key challenges such as job creation, digital access, and financial inclusion. This partnership exemplifies the power of collaboration between government and private sector entities to drive positive change and build a more prosperous future for Central America.
