Vice President Kamala Harris will announce agreements with private sector companies to invest in Guatemala, Honduras, and El Salvador as part of the White House’s effort to stem migration from Central America to the southern border.
Twelve firms and organizations have signed on, including Mastercard, Microsoft, Nespresso, Chobani, and Duolingo, a White House official said.
Others include Bancolombia and Davivienda, two regional banks, the World Economic Forum, which runs an annual gathering for the political and business elite in Davos, Switzerland, and nonprofit groups such as the Tent Partnership for Refugees, Accion, Pro Mujer, and the Harvard T.H. Chan School of Public Health.
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Executives from Accion, Chobani/Tent Partnership, Duolingo, Mastercard, Pro Mujer, and the WEF will sit down in person with Harris at the White House, with others joining the meeting virtually.
Microsoft has agreed to boost internet access for up to 3 million people, while Mastercard will aim to reach 5 million people through consumer banking and provide access to small businesses, according to the Wall Street Journal. Yogurt company Chobani will expand its business incubator to Guatemala, and Nespresso intends to purchase coffee beans from El Salvador and Honduras as part of a $150 million regional investment by 2025.
Billing the announcement as a “call to action,” the White House hopes it will prompt new commitments across six areas of focus, including on transparency, regular-economy jobs, and workforce development, according to a White House official.
It also spans traditional aid and development initiatives with food aid, climate-resilient agriculture, climate resilience, clean energy adoption, and public health assistance, including on COVID-19.
“This approach will leverage commitments and resources from the governments in the Northern Triangle and partnerships with private and social sectors to draw on their unique resources and expertise to support economic growth,” this official said.
The Biden administration argues that boosting economic development, fighting corruption, and improving security in these countries will make migration a less attractive option to people seeking to improve their lives.
Speaking to a group of Guatemalan justice leaders earlier this month, Harris said that violence and corruption deter economic investment in the region while compelling people to leave.
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She added: “I don’t need to tell you this — injustice is a root cause of migration. It is causing the people of the region to leave their homes involuntarily, meaning they don’t want to leave but they are fleeing: Women, Indigenous people, Afro-descendants, LGBTQ people are facing discrimination and persecution; families are living in fear of traffickers and gangs.”
