US brings together resources to help boost Northern Triangle economies
The United States has launched an initiative to foster economic opportunity in the countries of the Northern Triangle, with dozens of global companies, including Microsoft, signed up to participate.
The initiative, called “Call to Action”, is designed to tackle the root causes of the immigrant exodus in the Northern Triangle countries – Honduras, El Salvador and Guatemala.
Organizations participating in the initiative include Accion, Bancolombia, Chobani, Davivienda, Duolingo, Harvard TH Chan School of Public Health, Mastercard, Microsoft, Nespresso, Pro Mujer, the Tent Partnership for Refugees, and the World Economic Forum.
Each of these organizations will draw on their own resources to make the initiative a success. Microsoft, for example, has pledged to expand internet access to up to 3 million people in the region by July 2022, while Mastercard will bring 5 million people into the financial system and digitize 1 million microphones and small enterprises.
The US government, for its part, will help fight corruption and improve security, which is vital in attracting foreign investment to the region.
“This approach will leverage the commitments and resources of the governments of the Northern Triangle, as well as partnerships with multilateral development banks and international financial institutions,” read a White House press release.
The countries of the Northern Triangle have long been plagued by deadly violence caused by criminal gangs associated with Colombian or Mexican drug cartels. People fleeing violence often end up on the US border with Mexico. The Joe Biden administration is under enormous pressure to stem the flow of these immigrants.