East Room
10:01 A.M. EDT
THE PRESIDENT: Good morning, everybody. I’m honored to welcome all of you to the White Home. I actually are — am honored to have you ever right here for the inaugural leaders assembly of the Americas Partnership for Financial Prosperity.
Final yr in Los Angeles on the Summit of the Americas, we launched an agenda for cooperation, frequent function, and transformative beliefs to raised ship for the folks all throughout and up and down our area.
One key consequence of the summit was this partnership and 12 international locations committing to drive modern approaches to shared challenges.
To develop our economies from the underside up, and the center out, due to that — once we do it that method, everybody does nicely. The rich just do positive, however we — the middle-class and working-class folks have a shot.
And to extend alternative and reduce inequity; to harness the unbelievable financial potential of the Americas; and to make the Western Hemisphere probably the most economically aggressive area on this planet. I feel that’s completely inside our attain.
During the last yr and a half, everybody has stepped up and we’ve stepped up collectively. And the initiatives we’re asserting immediately converse to the progress we’ve already made and the potential of the Americas Partnership going ahead.
First, we’re doubling down on mobilizing monetary options within the Americas.
America is already the biggest supply of funding throughout Latin America and the Caribbean by far. And we wish to ensure that our closest neighbors know they’ve an actual alternative between debt-trap diplomacy and high-quality, clear approaches to infrastructure and to growth.
So, the U.S. Worldwide Growth Finance Company and the Inter-American Growth Financial institution are launching a brand new funding platform to channel billions of {dollars} towards constructing sustainable infrastructure within the hemisphere and strengthening essential provide chains.
Fashionable ports, clean-energy grids, digital infrastructure —
these are the constructing blocks — the constructing blocks to — for a aggressive and resilient financial system.
And by can- — combining the dedication of america authorities to miti- — to mitigate funding threat with the agility of personal sector financing, we consider we are able to ship good points for staff and households all through the area.
America is al- — additionally working with the Inter-American Growth Financial institution to ascertain a Fund for Nature to seed extra funding in nature-based local weather options like debt-for-nature swaps and blue and inexperienced bonds.
I supported a debt-for-nature swaps relationship again to my time in america Senate, and it is a ripe space for appreciable development for my part.
Buyers are desperate to assist initiatives that — which might be — with demonstrated potential.
And by offering early-stage funding [and] the technical help, we are going to assist extra promising local weather options get off the bottom than ever earlier than.
We are able to assist extra initiatives like trailblazing deal we noticed earlier this yr restructuring Ecuador’s worldwide debt inside ge- — and can generate tons of of hundreds of thousands of {dollars} in marine conservation work across the Galapagos Islands.
The second factor we’re doing: We’re investing in our folks in every of our international locations. All throughout the area, entrepreneurs are prepared to interrupt out. Buyers are altering the way in which we expect. Staff are able to roll up their sleeves. And we’re going to verify they’ve the talents and the sources they want so as to succeed.
Right now, we’re launching the Americas Partnership Accelerator — a multiyear program to assist promising entrepreneurs develop and fund their concepts.
That is an instance of what we are able to ship once we work collectively.
Canada is becoming a member of america with funding to launch the Accelerator, and Uruguay is main the creation — main the creation of an angel investor community — people who mobilize enterprise capital from around the globe to assist the Accelerator.
I thank Prime Minister Trudeau and President — and I feel Prime Minister Trudeau and President Lacalle are additionally — and I additionally thank President Chaves for — I wish to thank them for committing to ascertain a brand new regional Middle of Excellence in Costa Rica.
The Middle will present instructional coaching that’s going to assist equip staff within the hemisphere to steer within the digital financial system — the digital financial system of the longer term, working in fields like cybersecurity and semiconductor manufacturing.
And President Boric, we — I wish to thanks for committing Chile to steer new initiatives to construct our regional house trade so we are able to higher harness satellite tv for pc know-how and deal with important points, from local weather change to meals insecurity.
And at last, we’re affirming our region-wide strategy to sharing accountability for managing the challenges of unprecedented migration flows.
With the Los Angeles Declaration on Migration and Safety, we dedicated to work collectively to handle the historic ranges of migration impacting all — all of our international locations.
Our shared strategy has three key elements.
One, working collectively to stabilize migrant populations, together with ensuring the communities which might be welcoming migrants and refugees can afford — can afford to welcome them and afford to look after them.
And two — as a part of that dedication, america and Canada and Spain are contributing to the Inter-American Growth Financial institution’s Migration Grant Facility to assist international locations which might be approaching — which might be offering migrants with authorized standing, supporting the essential companies essential for communities to dwell in security and, possibly most significantly, in d- — with dignity.
Second factor we’re doing: increasing authorized pathways to vow — to advertise protected and orderly migration, offering employee permits to permit migrants to contribute to our financial system. This can be a essential asset and — to all of our international locations.
And three, imposing our immigration legal guidelines in a humane and efficient ways in which deter — that deters harmful, irregular migration and disrupts traffickers.
I’ve requested america Congress for supplemental funds to hold out this three-part technique in our nation, and I urge them to behave rapidly.
So, let me shut with this. Our area is eternally knit collectively by the shut bonds of household and enduring friendship.
America — it isn’t hyperbole to counsel — is formed by the wealthy contributions of individuals from all throughout this area. We’re a rustic of immigrants. Greater than 63 million Latinos and hundreds of thousands extra with roots within the Caribbean are strengthening communities all throughout america of America, and it’s an enormous deal.
America at the moment has the fourth-largest Spanish-speaking inhabitants on this planet. A few quarter of the kids in our public faculties immediately are Hispanic.
In every of our international locations, our individuals are younger and dynamic and various, poised to grab the longer term. And I feel they are surely. All we have to do is maintain going, maintain delivering on the constructive imaginative and prescient all of us share for a area that’s safe, affluent, and democratic — from Canada’s northernmost reaches to the southern tip of Chile.
And I hope you share my view as we stay up for our subsequent leaders assembly in Costa Rica in 2025. I wish to thanks for all carrying our momentum ahead. President Chaves, thanks.
And at th- — at that assembly, I hope to see extra international locations from the area be a part of us as we search to develop this partnership.
Thanks once more for everybody round this desk. We bought quite a lot of work to do. Your partnership and your management is vital. And we’re going to perform an terrible lot, God keen, within the subsequent few years.
And I do know — I’ll ask the press now to depart, which they all the time love listening to, so we are able to get all the way down to enterprise.
So, thanks very, very a lot.
10:10 A.M. EDT