US to offer economic benefits for countries hosting migrants, shore up supply chains

US to offer economic benefits for countries hosting migrants, shore up supply chains
US to offer economic benefits for countries hosting migrants, shore up supply chains

Hello and welcome to the details of US to offer economic benefits for countries hosting migrants, shore up supply chains and now with the details

Nevin Al Sukari - Sana'a - A general view of the White House in Washington October 2, 2021. US President Joe Biden will convene leaders from Latin America and the Caribbean at the White House tomorrow to discuss economic issues and migration at the Americas Partnership for Economic Prosperity Leaders’ Summit.— Reuters pic

WASHINGTON, Nov 2 — The United States will announce tomorrow new development financing for countries hosting migrants in the Western Hemisphere as part of an effort to curb migrant arrivals at the US-Mexico border and expand economic cooperation in the region, senior US officials told Reuters.

President Joe Biden will convene leaders from Latin America and the Caribbean at the White House tomorrow to discuss economic issues and migration at the Americas Partnership for Economic Prosperity (APEP) Leaders’ Summit.

The summit follows a similarly themed meeting of Western Hemisphere leaders in Los Angeles last year, part of a broader push aimed at strengthening regional economic ties and reducing China’s influence in the region.

Advertisement

The White House said leaders from Barbados, Canada, Chile, Colombia, Costa Rica, the Dominican Republic, Ecuador, Peru and Uruguay are expected to attend Friday’s gathering, as well as representatives from Mexico and Panama.

The United States is working with the Inter-American Development Bank (IDB), which promotes economic development in Latin America and the Caribbean, to create a new financing platform that will serve middle and higher-income countries, the officials said, requesting anonymity to share details on the forthcoming announcements. The United States will also work to expand its contributions to the bank, one of the officials said.

The new IDB financing platform is part of a package that will also include funds from the private sector and other donors “to reinforce this welcoming spirit in the region,” the official said. The hope is to expand economic prospects in the region so migrants do not head to the United States.

Advertisement

“We are talking about building competitive regional supply chains that can compete in the market, and that means competing against China,” another US official said, adding that better economies at home could reduce migration outflows.

Clean energy, semiconductors and medical supplies were areas where the region could compete globally, one of the officials said, adding that increased cooperation efforts could also help Latin America bolster work in space, an area where it has lagged.

Partner countries could also advance the use of innovative new instruments such as Colombia’s green bonds, or the recent debt for climate swap set up for Ecuador by the US International Development Finance Corp, the official said.

Biden, a Democrat, has grappled with record numbers of migrants crossing the southwest border, fueling criticism from Republicans and some Democratic mayors who say their cities are struggling to provide housing and food.

The mayors of Chicago and Denver met with senior Biden officials at the White House on Thursday after they sent a letter this week along with the mayors of Houston, New York and Los Angeles requesting federal funding and faster access to work permits for migrants, the Denver mayor’s office said.

Biden has sought to pair restrictive measures to deter illegal border crossings with new legal avenues to the United States.

The administration in mid-October resumed direct deportations to Venezuela that were stalled for years due to tensions between the two nations. At the same time, the United States admitted three Venezuelan families as refugees through a new migrant processing office in Colombia, one of the US officials said.

Because the families arrived through the US refugee resettlement programme, they will have a path to US citizenship and receive other benefits not available for those crossing the border illegally, the official said.

The administration aims to scale up processing through Safe Mobility Offices, centers that have also opened in Guatemala, Costa Rica and Ecuador. It remained unclear whether those measures and others will reduce record migration levels.

The Biden administration has called on the US Congress to provide additional funds for border security, including money to pay other countries to deport migrants. Panama has expressed interest in expanding migrant screening and deportations if funds become available, the official said. — Reuters

These were the details of the news US to offer economic benefits for countries hosting migrants, shore up supply chains for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at Malay Mail and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

PREV German parliament votes to legalise recreational cannabis
NEXT Ukraine military destroys Russian surveillance plane — air force commander

Author Information

I have been an independent financial adviser for over 11 years in the city and in recent years turned my experience in finance and passion for journalism into a full time role. I perform analysis of Companies and publicize valuable information for shareholder community. Address: 2077 Sharon Lane Mishawaka, IN 46544, USA Phone: (+1) 574-255-1083 Email: [email protected]