US invests in southern Mexico to discourage migration in the region
The two projects that took shape are the construction of a natural gas liquefaction plant and the creation of a wind power plant, which represent a direct investment of almost 500 million dollars
Mexican President Andrés Manuel López Obrador greets the people of Nuevo Momón, state of Chiapas, Mexico, on Saturday, July 6, 2019 / AP Photo / Idalia Rie
Associated Press
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The Mexican government announced that the first two US investment projects in the south of the country will be for one natural gas and one wind power plant, a part of the more than 10 billion dollars pledged in December for the region.
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The objective of US investments in southern Mexico and northern Central America is to create development to discourage migration to the north and it will be channeled through the US development agency Overseas Private Investment Corporation (OPIC), which combines public and private investment.
According to what the Mexican Foreign Ministry explained in a statement on Wednesday, the two projects that were completed are the construction of a natural gas liquefaction plant and the creation of a wind power plant, which represent a direct investment of almost $ 500 million dollars. It was not stated where they will be located.
OPIC's Director of operations, Ryan Brennan, met with Foreign Minister Marcelo Ebrard on Wednesday and announced that the office will extend financing of $ 52 million for micro, small and medium-sized companies in southern Mexico through local banks and institutions of microcredits, giving priority to projects headed by women.
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"By supporting US investment in high-impact sectors such as financial services and energy, these projects will create new economic opportunities in southern Mexico that will empower men and build communities," Brennan said, according to the ministry's note.
These investments are part of the 10,600 million dollars pledged by the United States in December, of which 4,800 would be for the south of the country.
The Government of Andrés Manuel López Obrador believes that the investment for the development of Central America is a fundamental point to stop the flow of migrants to the north, which has increased exponentially since the end of last year and for this he has not only asked for support to Washington, but to other countries and several UN agencies as well.
In parallel, since the end of March, it reinforced the actions of detention and deportation of immigrants who crossed illegally through its southern border.
