Vice President Kamala Harris announced new series of private sector investments worth $1.9 billion in Central America as part of the administration's effort to address the root causes of immigration.

The private sector investment includes a $700 million expansion of cellular networks in Guatemala, Honduras, and El Salvador by Miami-based Millicom, according to a New York Post report.

Visa also committed $270 million to promote digital payments in the region while auto parts supplier Yazaki allotted a $110 million investment to hire more than 14,000 employees in Guatemala and El Salvador by the end of 2026.

The new investments from the private sector are added on top of the $1.2 billion made in December.

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Private Sector Investments in Central America

Voice of America News reported that the U.S.' efforts to stem immigration from the Northern Triangle have been tainted with corruption, with projects likely worth millions shelved and some private sector engagement stalled.

A $150 million pledge from Gap was also taken to increase materials sourced from the region.

Vice President Kamala Harris announced an initiative with the private sector that aims to connect 1.4 million women to the financial system and train more than 500,000 women and girls in job skills.

Harris also revealed a $50 million project called the Central American Service Corps, which is designed to give young people in the Northern Triangle paid community service opportunities in areas, including education and violence prevention.

Agroamerica also said that they will invest more than $100 million in six new projects that will generate 1,000 permanent, living-wage jobs in northern Central America for the next five years.

The family-owned corporation has future projects in mind, such as food ingredients refinery, plantations, and processing plants, as noted in a White House press release.

Pantaeon will also invest $9.4 million to fund the initial phase of a 1,200-acre industrial park on Guatemala's Southern Coast.

The park is expected to be a hub for manufacturing, logistics, and distribution businesses once completed.

The Call to Action initiative now includes 40 companies and organizations that have made commitments to invest in the region.

U.S. on Immigration Surge

U.S. officials noted in a Reuters report that U.S. President Joe Biden will open the Summit of the Americas gathering with a policy speech promoting new economic partnership for the Western Hemisphere.

Biden also plans to preview a declaration on migration to be announced on Friday, with officials saying it will include specific commitments from leaders to address the problem.

Meanwhile, the presidents of Guatemala and Honduras have suggested they will not attend the summit and will instead send other officials. It was not clear whether El Salvador's president, Nayib Bukele, would attend the gathering.

On the other hand, several thousands of migrants set off from southern Mexico on Monday to the U.S. border. The majority of the migrants are from Venezuela.

At least 5,000 people left the city of Tapachula, which is near Mexico's border with Guatemala.

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This article is owned by Latin Post

Written by: Mary Webber

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