In an ambitious move, the United States is set to announce a series of economic initiatives to support countries in the Western Hemisphere that host migrants. This decision comes amid ongoing efforts to streamline regional supply chains and manage migrant arrivals at the U.S.-Mexico border.
Americas Partnership for Economic Prosperity
President Joe Biden is expected to meet leaders from Latin America and the Caribbean at the Americas Partnership for Economic Prosperity (APEP) Leaders’ Summit to deliberate on economic and migration issues.
This summit comes on the heels of a similar meeting held in Los Angeles last year, emphasizing the intent to solidify economic relations within the Western Hemisphere.
Leaders from several countries, including Barbados, Canada, Chile, and Colombia, are expected to join the discussion along with representatives from Mexico and Panama.
In collaboration with the Inter-American Development Bank (IDB), the U.S. aims to establish a financing platform catering to middle- and higher-income countries in the region.
The proposed IDB financing platform will encompass funds from private sectors and other donors, aiming to enhance the economic conditions within the region.
The U.S. seeks to construct competitive regional supply chains that can stand against markets like China.
Focus On Various Sectors
Officials suggest that clean energy, semiconductors, and medical supplies are potential sectors where the region could thrive globally.
Countries may explore options such as Colombia’s green bonds and the U.S.’s recent debt for climate swap initiative for Ecuador.
The surge in migrants at the southwest border has led to critiques from Republicans and Democratic mayors concerning the strain on resources for housing and food.
Mayors from various cities have appealed to President Biden for federal funding and swifter work permits for migrants. Chicago Mayor Brandon Johnson highlighted the urgency of federal support in light of the approaching colder weather.
Biden’s administration is exploring legal pathways to the U.S. while implementing measures to curb illegal border crossings.
Refugee Resettlement Program
Three Venezuelan families were recently admitted as refugees through a new migrant processing office in Colombia, allowing them a path to U.S. citizenship.
The administration plans to extend migrant processing through centers known as Safe Mobility Offices located in countries such as Guatemala and Costa Rica.
The Biden administration is urging Congress to allocate additional funds for border security and initiatives to support deportations by other countries.
Panama has shown interest in enhancing migrant screening and deportations, contingent on the availability of funds.
By fostering collaboration and economic cooperation, the initiative aims to create a sustainable environment that benefits both the U.S. and its neighbors in the Western Hemisphere.
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