U.S. efforts to address economic drivers in Guatemala

By Mayora IP

The White House reviewed in an official statement the U.S. Government efforts to address economic drivers in Guatemala. U.S. Vice President Kamala Harris has led progress on the administration’s strategy, including by traveling to Guatemala to launch the initiatives.

Recognizing the important role for the private sector, Harris brought together private sector leaders through a Call to Action which has resulted in over US$1.2 billion in private sector commitments in Central America to create new jobs and opportunities for people in the region. 

Companies that have made investments and commitments in the region include Mastercard and Nespresso. Mastercard established a Digital Country Partnership which will enable micro and small businesses to access online payment and management systems, while Nespresso works with over 1,200 farms in Guatemala to improve livelihoods in the region.

Through its Agency for International Development (USAID), U.S. has leveraged US$59 million, against its US$7.5 million investment, from international and local private sector partners to scale technology-driven, market-led solutions to critical development challenges throughout the country. With the launch of a US$40 million Young Women’s Empowerment Initiative, USAID is partnering with Guatemalan indigenous and women’s organizations, private sector, and international organizations to increase income-generating opportunities for thousands of indigenous Guatemalan women and girls.

U.S. also contributed to Guatemala’s first public-private partnership (PPP) project in November 2021, which will extend and repair the highway that connects the capital with the country’s primary Pacific port, Puerto Quetzal, and can serve as a model for other infrastructure investment and help Guatemalans bring their products to the global market. 

Guatemala is currently working to obtain approval for 11 new infrastructure projects under the public-private partnership model after successfully carrying out the first contract of this kind in the country.