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ICYMI: Vice President Kamala Harris Announced $1.2 Billion in Private Sector Investments in Central America

December 14, 2021

As part of her role addressing the root cause of migration, Vice President Harris secured a new round of commitments to promote economic opportunity in Central America

Yesterday, as part of her role addressing the root causes of migration from Central America, Vice President Kamala Harris hosted a roundtable with CEOs where she announced that private sector investments in Central America now total over $1.2 billion. These commitments are in response to the Vice President's Call to Action in May for businesses and social enterprises to make new, significant commitments to sustainably address the root causes of migration by promoting economic opportunity.

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CNN: Harris to announce new private sector investments in Northern Triangle
[Jasmine Wright and Priscilla Alvarez, 12/13/21]

Vice President Kamala Harris on Monday will announce a new slate of commitments from the private sector to invest in the Northern Triangle, senior White House officials say, marking the administration's latest attempt to address the root causes of migration from the region by promoting economic opportunity.

The announcement follows an initial agreement, dubbed a "Call to Action," released in May, that detailed $750 million in commitments from major companies like Microsoft, Mastercard, Chobani, Duolingo, Nespresso, Bancolombia and Davivienda.

Washington Post: Harris announces private-sector investments as she seeks to address migration from Central America
[John Wagner, 12/13/21]

She added, "This is not about us coming in and telling anyone what they should do. It is about being partners and assisting and helping to facilitate the natural desire of the people in these nations. This is important work. This is good work. I think this reflects the best of who we are as the United States recognizing our responsibility as neighbors to these countries in the Western Hemisphere."

Ahead of the meeting, Harris's office detailed new investments from seven companies. It said, for example, that PepsiCo, the global food and beverage company, would invest $190 million in northern Central America through 2025, including improvements to its manufacturing plans in the region. The company already has a long-standing presence in Guatemala, El Salvador and Honduras, including a regional manufacturing hub in Guatemala.

Univision: El gobierno de Biden anuncia una inversión de 1,200 millones para Centroamérica con aportes empresariales
[David Adams, 12/13/21]

La vicepresidenta Kamala Harris anunció este lunesque su esfuerzo para abordar las causas profundas de la migración centroamericana ha atraído 1,200 millones de dólares en inversiones del sector privado con la ayuda de las empresas estadounidenses. Varias grandes empresas anunciaron nuevos compromisos para apoyar el desarrollo económico en Centroamérica, añadiendo casi 500 millones de dólares a los 750 millones anunciados en el lanzamiento de la iniciativa en julio.

Entre ellas se encuentran el gigante agroindustrial Cargill, la empresa mundial de alimentos y bebidas PepsiCo y el almacén de compras PriceSmart. Estos se suman a las inversiones iniciales de la empresa tecnológica Microsoft, la compañía de tarjetas de crédito Mastercard y la empresa de café Nespresso.

Reuters: VP Harris secures new investments from companies like Pepsico, Cargill for Central America strategy
[Nandita Bose, 12/13/21]

In March, President Joe Biden tasked Harris with leading U.S. efforts with Mexico and the so-called Northern Triangle countries of Honduras, El Salvador and Guatemala to lower migration from the region.

Harris chose to focus on addressing the root causes such as corruption, poverty, violence that drive people to leave their homes and has since visited Guatemala and Mexico. She has also held talks with leaders from those countries including Xiomara Castro, the newly elected President of Honduras.

AP: Vice President Harris announces private investments in Central America
[Associated Press, 12/13/21]

Vice President Kamala Harris on Monday announced $1.2 billion in commitments from international businesses to support the economies and social infrastructure of Central American nations, as she works to address what the White House terms the "root causes" of migration to the United States. […]

In May, Harris appealed to the private sector to invest in El Salvador, Guatemala and Honduras in an effort to improve stability and opportunity in the Central American countries. Monday's announcement builds on that "call to action," as she announces new commitments and encourages other companies to continue their investment.

The Hill: Harris announces new private sector commitments to America
[Morgan Chalfant, 12/13/2021]

Vice President Harris on Monday announced that additional companies will invest millions to improve the economy in Central America as part of her effort to address the root causes of migration. The new commitments are part of a "call to action" that Harris announced in May. White House officials said that they bring the total of investments the vice president has secured to $1.2 billion.

Among the new commitments, PepsiCo is promising to invest $190 million in the Northern Triangle countries through 2025 to improve its plants and expand distribution routes; Parkdale Mills will spend $150 million to build a new yarn-spinning facility in Honduras; and the humanitarian organization CARE International is spending $50 million to establish a new Center for Gender Equity to support women and young people in Central America.

Axios: Harris: Companies committing to Central America investment
[Sophia Cai, 12/13/21]

Vice President Kamala Harris will announce Monday that seven companies have committed to investing in Guatemala, Honduras and El Salvador, senior White House officials said.

Why it matters: The commitments will push administration-led private sector investments in Central America to over $1.2 billion, as Harris doubles down on a multi-pronged effort to address the root causes of migration from the region to the U.S.-Mexico border.

Voice of America: VP Harris Announces $1.2 Billion in Private Investment for Central America
[Staff, 12/14/21]

U.S. Vice President Kamala Harris announced $1.2 billion in private-sector investments in Central America as part of a program aimed at reducing migration from the region.

"The United States has an important role to play in addressing the root causes of migration," Harris said Monday at the Eisenhower Executive Office Building, next door to the White House, before hosting a meeting with leaders from 10 companies to discuss investment initiatives in Central America.

FOX Business: Harris announces private-sector investments in Central America
[Jon Brown, 12/13/21]

Vice President Kamala Harris hosted a roundtable Monday to announce that international businesses have committed $1.2 billion to investing in Guatemala, Honduras and El Salvador.

The announcement follows an appeal she made in May for companies to invest in the Central American countries to improve stability and opportunity. Harris also touched on other measures by which the Biden administration is attempting to address the "root causes" of the flood of migrants to the United States.

"Today we mark an important milestone," Harris said. "Six months ago, we launched a call to action for businesses to invest in Central America. Six months ago, 12 people were around this table. Today, we have 77 partners who are here and virtually here, with 1,300 more businesses, civil society leaders, who are watching this conversation and this convening. Six months ago, we had a commitment of $750 million. Today, we have a commitment of over $1.2 billion."

Kamala Harris, ICYMI: Vice President Kamala Harris Announced $1.2 Billion in Private Sector Investments in Central America Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/353782

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