Vice President Harris and PCA unveil $1B in new commitments for economic growth

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

• Total new commitments exceed $5.2 billion since May 2021.
• 50+ companies and organizations have made commitments to support inclusive economic growth.
• Investments create jobs, connect people to the digital economy, and improve economic livelihoods.
• New commitments include investments in agriculture, financial inclusion, steel production, 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.

Implications

• 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.

These investments are producing concrete opportunities for families and communities, yielding benefits for students, employees, entrepreneurs, and households, while also establishing a blueprint for mobilizing private sector commitments to propel economic development.

These pledges demonstrate a strong dedication to sustainable growth and inclusive development in the region, tackling essential issues such as job creation, digital access, and financial inclusion. The partnership serves as a prime example of the transformative potential that arises from the collaboration between government and private sector entities, working together to foster positive change and construct a more prosperous future for Central America.