U.S. Vice President Kamala Harris is due to announce $1.2 billion in private sector investments in Central America Monday as part of a program aimed at reducing migration from the region.
The announcement is expected at a meeting Harris is hosting with leaders from 10 companies to discuss investment initiatives in Central America.
The White House said the $1.2 billion includes a five-year $150 million effort from Cargill to expand support for farmers in Honduras, Guatemala and El Salvador, as well as $50 million from CARE International for a Center for Gender Equity in Central America focused on economic empowerment for women, financial inclusion and reducing gender-based violence.
In Honduras, the White House said Parkdale Mills plans to build a new yarnspinning facility that will support 500 employees.
JDE Peet’s plans to boost its support for farmers in Central America, including help for adapting to the effects of climate change, diversifying income sources and better accessing markets.
“These commitments are in response to the Vice President’s Call to Action, launched in May, for businesses and social enterprises to make new, significant commitments to sustainably address the root causes of migration by promoting economic opportunity,” a White House official said ahead of the announcement.
Harris is heading the Biden administration’s efforts to stem migration from Central America to the U.S. border, with a focus on addressing the reasons people feel compelled to leave their home countries.