Major Banks in the Northern Triangle of Central America aim to attract investment from the United States

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HUGE Business and Investment Council

Apr 21, 2023, 16:12 ET

Banco Cuscatlan, Banco Industrial and Ficohsa, together with the HUGE Business and Investment Council agree to promote the generation of sustainable jobs, support the financing of strategic projects for the region and bring positive attention to the productive sectors of Guatemala, Honduras, and El Salvador.

SAN SALVADOR, El Salvador, April 21, 2023 /PRNewswire/ -- This week's conference, "Investment Opportunities to Capitalize on Nearshoring of US Companies in Guatemala, Honduras and El Salvador", hosted by the HUGE Business and Investment Council, featured presentations of eight large infrastructure projects by their private sector sponsors to twelve major financial institutions involved in funding private sector infrastructure projects in the region.

The total private investment in these projects amounts to $3.4 billion and generates approximately 140,000 new jobs in the Northern Triangle region of Central America. The investment opportunities include two large industrial parks, a technology park, a large data center to support e-commerce, modern highway construction and two alternative energy projects, as well as the expansion of an operations center for maintenance, repair, and overhaul of commercial airplanes in El Salvador, making it one of the largest of its kind in the world.

The leaders of three major Central American banks also signed a memorandum of understanding to formalize their commitment towards creating greater opportunities for Central Americans and helping address causes of irregular migration to the United States.

"Encouraging investment in projects that generate positive economic, social, and environmental impact is crucial for the sustainable development of our region. It ensures a future of new opportunities, allowing Central Americans to fulfill their "American Dream" at home rather than risking their lives to seek it elsewhere," said Dr. Juan José Daboub, President of HUGE.

Banco Cuscatlan, Banco Industrial and Ficohsa are Founders of HUGE, an initiative that represents the first joint effort of private sector job creators from the three Central American countries and their counterparts from the United States to create massive employment throughout the region, including in the United States.

In addition to supporting the development of investment projects, as part of its mission, HUGE seeks to bring together major players in the United States and in the countries of the Northern Triangle, including small and medium-sized businesses, as well as civil society organizations, and the public sector, to support large-scale regional infrastructure projects that will catapult the region's competitiveness.

SOURCE HUGE Business and Investment Council