Thursday 24 June 2021

U.S. pledges billions in aid to develop Central America, curb migration

(Reuters) – The United States is committing billions of dollars toward development in Central America and Mexico, as part of a plan to strengthen economic growth in the region and curb illegal immigration, the U.S. and Mexican governments said on Tuesday.

The U.S. State Department announced on Tuesday that it is pledging more than $10 billion to help strengthen the economies of Central America and Southern Mexico to stem the flow of migrants

Mexican President Andres Manuel Lopez Obrador has been seeking to persuade U.S. counterpart Donald Trump to work with Mexico to develop Honduras, El Salvador and Guatemala, as well as Mexico’s impoverished south, to stem the flow of migrants.

- Advertisement -

But Trump’s threats to slash aid to the region if illegal immigration were not contained have persistently raised doubts about how much the United States would provide. Much of the new aid pledged on Tuesday will depend on the viability of the projects.

Mexican Foreign Minister Marcelo Ebrard said the United States is committing $5.8 billion toward development in Central America. It is also increasing public and private investment in Mexico by $4.8 billion via the Overseas Private Investment Corporation (OPIC), $2 billion of which is set to go to the south.

Speaking as the U.S. State Department issued a statement setting out the commitments, Ebrard said that the Mexican government had also pledged to find $25 billion to develop the south of the country during the next five years.

“The agreements established here mean more than doubling the foreign investment in the south of Mexico from 2019,” the minister told a news conference in Mexico City.

- Advertisement -

It was not immediately clear how much of the investment announced represented new funding. A spokesman for Ebrard told Reuters he understood that $2.5 billion of the pledges to develop Central America were fresh commitments.

The State Department said the United States and Mexico would organize a business summit in the first quarter of 2019 to create investment opportunities focusing on southern Mexico and the three Central American countries.

A State Department official who declined to be named said the U.S. pledges include $1.8 billion Washington has spent or allocated between 2015 and 2018, as well as the budget requested for next year. The sums also incorporate OPIC’s current projects and potential pipeline, and the U.S. government’s current Millennium Challenge commitments.

OPIC’s current projects and pipeline for Mexico total $2.8 billion, the official said, adding: “We announced today that OPIC could make another $2 billion available for southern Mexico if commercially viable projects are presented.”

- Advertisement -

FACT CHECK:
We strive for accuracy in its reports. But if you see something that doesn’t look right, send us an email. The Q reviews and updates its content regularly to ensure it’s accuracy.

Ricohttp://www.theqmedia.com
"Rico" is the crazy mind behind the Q media websites, a series of online magazines where everything is Q! In these times of new normal, stay at home. Stay safe. Stay healthy.

Related Articles

Plate rupture has potential for stronger quakes

QCOSTARICA - The 5.7-magnitude tremor, felt at 5:27 pmon Thursday, occurred...

The US improves travel alerts for Central America; Not Costa Rica and Nicaragua

QCOSTARICA - The United States has eased travel advisories for most...

MOST READ

Today 50 years ago: Costa Rica and Panama entered into conflict over air routes

TODAY COSTA RICA - Original text published in La Nacion on June 23, 1971 - A conflict over air routes, has been unleashed between...

The Best Sports To Play On A Beach

Costa Rica has some of the best beaches in the world. The coastline is blessed with golden sand, beautiful palm trees, and perfect blue...

The United States will distribute 55 million vaccines against Covid-19 in Latin America, Africa and Asia

QCOSTARICA - The United States presented on Monday a plan to share 55 million doses of coronavirus vaccines worldwide, with approximately 75% of the...

Today’s Vehicle Restriction June 18: 9 & 0 CANNOT circulate

Today, Friday, June 18, vehicles with plates ending 9 & 0 CANNOT circulate The measure is countrywide and applied between 5:00 am and 9:00 pm,...

Nathalie Álvarez Mesén’s feature debut, Clara Sola, ready for the Cannes Directors’ Fortnight

Q ENTERTAINMENT (CINEUROPA) Nathalie Álvarez Mesén’s debut feature, Clara Sola, is ready to take part in this year’s Directors’ Fortnight at the Cannes Film...

Rodolfo Méndez rules out new contracts for MECO and H Solís

QCOSTARICA - No more soup for you! If the Minister of Public Works and Transport (MOPT), Rodolfo Méndez, has his way, the H. Solís...

Today’s Vehicle Restriction June 22: plates ending in 3 & 4 CANNOT circulate

Today, Tuesday, June 22, plates ending in 3 & 4 CANNOT circulate. The measure is countrywide and applied between 5:00 am and 9:00 pm, save...

Today’s Vehicle Restriction June 23: plates ending in 5 & 6 CANNOT circulate

Today, Wednesday, June 23, plates ending in 5 & 6 CANNOT circulate. The measure is countrywide and applied between 5:00 am and 9:00 pm, save...

OIJ investigation into road works corruption leads to inquiries in Panama

QCOSTARICA - The prestige of the company of some of the richest men in Costa Rica hangs by a thread. For many, the MECO...

WANT TO STAY UP TO DATE WITH THE LATEST!

Get our daily newsletter with the latest posts directly in your mailbox. Click on the subscribe and fill out the form. It's that simple!

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.