WASHINGTON: The United States, hoping to stem migration, said Tuesday it was ready to support $4.5 billion in investment in Central America and southern Mexico.
The United States promised to back new Mexican President Andres Manuel Lopez Obrador’s push for development in Central America, the primary source of migrants whose unauthorized entry into the United States has become a central focus for President Donald Trump.
The Overseas Private Investment Corporation (OPIC), which offers government-backed favorable financing to US businesses, is prepared to support $2.5 billion in new investment in El Salvador, Guatemala and Honduras “if commercially viable projects are identified,” the State Department said.
OPIC is also looking to mobilize $2 billion more for southern Mexico, the country’s poorest region, a statement said.
The State Department said that OPIC already has $2.8 billion worth of projects in the pipeline in Mexico as well as $1 billion since last year in El Salvador, Guatemala and Honduras — the so-called “Northern Triangle.”
In a parallel announcement in Mexico, Foreign Secretary Marcelo Ebrard told reporters that his government was “committed to promote strong regional growth, better-paying jobs and more opportunities for all our citizens.”
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