Harris announces private-sector investments as she seeks to address migration from Central America

3 yıl önce

Vice President Harris on Monday announced new investment commitments from an array of private companies to help address the root causes of migration from Central America, aiding her efforts on a daunting task on which she has been longing to show progress.

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With the pledges from companies including PepsiCo, Mastercard and Cargill, Harrisâs office said such entities have now committed to invest $1.2 billion in the poverty-stricken and violent region since she issued a âcall to actionâ for private-sector help in May.

The announcement comes amid staff departures and other reports of turmoil in Harrisâs office. Her portfolio includes several challenging assignments, including a charge from President Biden to address the root causes of migration at the southern border during a large spike in illegal crossings.

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Harris is expected to speak on her efforts recruiting private-sector investment during a meeting Monday afternoon with chief executive officers from her ceremonial office in the White House complex.

Ahead of the meeting, Harrisâs office detailed new investments from seven companies.

It said, for example, that PepsiCo, the global food and beverage company, would invest $190 million in northern Central America through 2025, including improvements to its manufacturing plans in the region. The company already has a long-standing presence in Guatemala, El Salvador and Honduras, including a regional manufacturing hub in Guatemala.

Harrisâs office also said that Cargill, a global food corporation, would invest an additional $150 million in the region with the aim of improving âfarmer livelihoods and building economic resilienceâ in Honduras, Guatemala and El Salvador.

Meanwhile, Parkdale Mills, one of the largest providers of spun yarns and cotton consumer products in the world, plans to spend $150 million to build a new yarn spinning facility in Honduras, according to Harrisâs office.

Other investments are being announced by CARE International, Grupo Mariposa, Parkdale Mills, JDE Peetâs and PriceSmart.

In addition, three other companies that announced initial investments in May â Mastercard, Microsoft and Nespresso â are announcing further plans in the region.