Vice President Kamala Harris and the Partnership for Central America recently announced a major milestone, securing over $950 million in private sector commitments in response to the Call to Action for Northern Central America.
The new commitments bring the total investment to more than $4.2 billion since May 2021.
These investments are aimed at addressing the root causes of migration by creating economic opportunities for people in the region.
The private commitments totaling $4.2 billion will primarily be distributed over the next five years, with a few extending into the next decade. The program’s main objectives are to generate one million new jobs in the area by 2032 and integrate six million individuals into the financial sector by 2027.
The White House claims that the public-private partnership brings together approximately 47 companies and organizations from various sectors, including financial services, textiles and apparel, agriculture, technology, telecommunications, and nonprofits, to drive economic security in the region.
However, some people are not convinced. There are skeptics who argue that the allocation of $4.2 billion in funding could result in higher inflation rates in the United States and that individual citizens may not receive the necessary funds to enhance their quality of life.
Critics of the Biden Administration argue that their policies have worsened the migration crisis and that providing funding will only make things worse in the long run. They believe that this funding could incentivize leaders to not solve the issue, as they would receive more money over time. Additionally, these critics assert that the investments made by the administration only create the illusion of a solution, without actually addressing the root causes of the crisis.