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

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

The Partnership for Central America (PCA) and Vice President Kamala Harris have jointly announced today an impressive sum of over $1 billion in fresh investments from the private sector. This landmark initiative, known as Central America Forward (CAF), is a dynamic public-private collaboration that emerged in direct response to the Vice President’s Call to Action for Northern Central America.

Key Highlights

  • 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.

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.

The investments are creating tangible opportunities for families and communities, benefiting students, employees, entrepreneurs, and families, and shaping a model for mobilizing private sector commitments to drive 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.