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.
Key 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.
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.
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.
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.
