The global economy is increasingly connected and competitive. In order to thrive, Latin American and Caribbean countries need to invest in infrastructure of all types. The region’s rising demand for modern infrastructure like smart grid energy systems, mass public transit and equipment to support fifth generation (5G) networks looms large, but the United States and its partner governments are up to the challenge.
“The United States economy is by far the most vibrant economy in the world,” said Mauricio Claver-Carone, deputy assistant to the president and senior director for Western Hemisphere affairs. “There is no reason why the Western Hemisphere should not share in this success.”
On December 17, senior representatives of U.S. energy and infrastructure companies and senior U.S. government officials joined dozens of foreign government ministers and ambassadors in Washington to launch the expansion of Growth in the Americas, or América Crece. Growth in the Americas is a new, whole-of-government partnership between the United States and Latin American and Caribbean countries to spur private sector investment in infrastructure, including projects in energy, transportation, and information and communication technologies.
The ultimate goal? To drive investment and development in infrastructure that will support long-term economic growth and create jobs.
“Through América Crece, our goal is to foster partnerships with other countries so that we can both achieve our shared ambitions to see the kind of long-term, sustainable growth we all want,” said Assistant Secretary Francis Fannon of the State Department’s Bureau of Energy Resources at the event. “Governments must help to create the right kind of investment climates for the right kinds of businesses” that operate competitively, transparently and with accountability.
We have a long history of partnership across Latin America, built on our shared values and close ties. Proud that the new #GrowthInTheAmericas initiative will develop critical infrastructure to increase opportunity and foster greater regional prosperity. #AmericaCrece pic.twitter.com/IN5P9XhSqB
— Secretary Pompeo (@SecPompeo) December 17, 2019
In support of the Growth in the Americas initiative, the United States also announced it would expand the Digital Connectivity and Cybersecurity Partnership (DCCP) from the Indo-Pacific region to Latin America and the Caribbean. DCCP will provide technical assistance and capacity building, facilitate public-private sector collaboration — including trade missions — and support financing for projects in the digital economy space.
“It’s all about the United States supporting their friends and allies in the Western Hemisphere,” said Adam Boehler, the CEO of the U.S. International Development Finance Corporation.