Harris to announce nearly $2B in private investment to help stem migration
by Brett Samuels - 06/07/22 10:51 AM ET
Vice President Harris on Tuesday will tout $1.9 billion in new investments from the private sector to address root causes of migration driving people out of Central America.
The new commitments come from dozens of companies that will invest in El Salvador, Guatemala and Honduras to boost economic growth and expand opportunities for low-income and at-risk communities in those countries.
Among the new investments is $150 million from Gap Inc. to increase its sourcing in Central America to support more manufacturing jobs. SanMar, an apparel company, will invest an additional $500 million in the region that will support 4,000 additional jobs. Telecommunications company Millicom will invest $700 million in the region to boost broadband networks. And Visa will spend $270 million to increase its digital infrastructure in the area.
The investments, to be announced Tuesday in Los Angeles ahead of the Summit of the Americas, bring the total commitments secured from the private sector to $3.2 billion since Harris was tasked last year with addressing root causes of migration from the Northern Triangle region.
“The vice president believes that we need to not just offer an individual a job but address the full spectrum of needs and support individuals in the different facets of their lives,” a senior administration official said on a call with reporters. “And that’s what this project is all about: trying to help individuals move up the economic ladder and not just have a job but also have access to information technology, banking system and infrastructure that creates that positive ecosystem.”
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https://thehill.com/news/administration/3514347-harris-to-announce-nearly-2b-in-private-investment-to-help-stem-migration/
