Joe Biden Warns Latin America About Chinese “Debt Trap” | Tina Poluiarte | Green Bond | the world

Before the heads of 11 countries, the President Joe Biden It pledged on Friday to promote green bonds and facilitate billions of dollars in investment Latin America so i can”selection” In the middle America y”Debt trap” China.

US President welcomed White House For leaders Chile, Colombia, Costa Rica, Ecuador, Peru, Dominican Republic, Uruguay, Canada Y Barbadosand Foreign Ministers Mexico Y Panama For the alliance’s first summit Economic prosperity in America (APEP), of which everyone is a part.

“America It is already, by far, the largest source of investment Latin America And this CaribbeanAnd we’re going to make sure there’s a choice between diplomacy with our closest neighbors Debt trap and transparent, high-quality approaches to infrastructure and development” Biden said.

America Accuses ChinaAn indispensable trading partner in the region, credit must be used to achieve strategic objectives.

To counter Beijing’s growing influence, Biden Announced as “International Development Finance Corporation”. America And this Inter-American Development Bank (IDB) is launching a new investment platform to allocate billions of dollars to build sustainable infrastructure in the United States.

He didn’t give figures, but the money was mainly “Strengthening critical supply chains, modern ports, clean energy networks (and) digital infrastructure“why”Basic elements“in”A competitive and resilient economy”, he listed.

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Green bonds

Energy transition and nature conservation are in Washington’s sights, which it is determined to promote, cooperatively AuctionA fund Green bondsTo invest in eco-friendly properties environmentY Blue tiesSpecializes in protecting oceans and their ecosystems.

During the summit, held every two years, countries focused on one of the most important issues at the regional level: supply chains, which have suffered serious disruptions. The international spread of Covid-19.

In a joint final declaration, they recognize that the situation may repeat itself due to the impact of climate change.

That is why they propose to establish “The world’s most competitive, inclusive, sustainable and resilient regional value and supply chains” focuses on three sectors: clean energy, medical products and semiconductors.

They also want to create”A regional accelerator for entrepreneurs and programs to foster workforce development, especially in the digital economy”.

Before the summit, there was a working breakfast with the Treasury Secretary AmericaJanet Yellen.

““None of us has a magic wand to increase productivity, create better jobs and higher wages.” But of nations APE There are “well positioned” to benefit from “Friendship“, she told them. The term she coined refers to production and distribution in geopolitical allies.

Yell believes countries in the region will benefit from the eventual increase in credit capacity International Monetary Fund (IMF) If the goal of raising member states’ quotas is met.

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Migration

America”It can become the most economically competitive part of the world“, he said Joe Biden.

But such challenges have to be overcome Climate changeIncome inequality, and illegal immigration in particular, is a headache for the Democratic president, whom Republicans blame for not doing enough to curb it at the border. Mexico.

To achieve this, he advocates confronting the crisis “Stabilization of migrant populations“Where they are, providing them with legal status and assistance and encouraging immigration.”Safe and orderly” with programs that allow work.

This is a statement, White House The United States, Canada, South Korea, Spain and the IDB announced a total of $89 million in funding for the fund.

Summit is over”A spirit of openness and inclusiveness” claims to encourage entry APE from other American countries. The next one will be held in 2025 Costa Rica.

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With information from AFP