Remarks by CEO Boehler at the América Crece Event With President Hernández of the Republic of Honduras
U.S. International Development Finance Corporation
As prepared for delivery
July 21, 2020
Washington, D.C. – U.S. International Development Finance Corporation (DFC) CEO Adam Boehler delivered the following remarks today at a virtual event to announce DFC’s intent to finance $1 billion of private sector investment over three years in Honduras and a memorandum of understanding (MOU) between the Governments of the United States and Honduras to establish a framework for bilateral cooperation in support of the Administration’s América Crece initiative. Honduran President Juan Orlando Hernández, U.S. Embassy Honduras Chargé d’Affaires a.i. Colleen A. Hoey, and Deputy Assistant to the President and Senior Director for Western Hemisphere Affairs at the National Security Council Mauricio Claver-Carone joined Boehler for the announcement:
“One of the great privileges of my work at DFC is seeing the profound impact that investment can have in transforming lives, communities, and countries. I speak on behalf of the entire U.S. Government when I say that we are deeply committed to mobilizing investment to advance development and strengthen economies. And nowhere is that commitment greater than toward our neighbors in Latin America.
“The countries of the Americas are connected not only by our geography but by our shared values, including a commitment to economic growth and prosperity, to transparency and rule of law, and to regional security.
“The U.S. launched the América Crece initiative in recognition that private investment is key to advancing these shared goals. A broad U.S. Government approach can help mobilize investment with the private sector to build critical infrastructure, energy and other projects that will promote growth. Today, at a time when liquidity and access to finance is severely constrained, this partnership is particularly vital.
“In addition to the MOU with the Government of Honduras, DFC is committing to finance $1 billion of private sector investment over three years in Honduras. Our focus will be on projects to strengthen the country’s infrastructure, advance digital connectivity, strengthen health systems, expand financial services, and help lay the groundwork for a more prosperous future.
“When we commit to build modern infrastructure and energy, we not only stimulate commerce and economic opportunity, but also create jobs, improve living standards, and uplift communities.
“Today’s MOU extends a longstanding partnership with Honduras: In recent years, my agency provided financing to build Geotermica Plataneras, a 35 megawatt geothermal power plant in western Honduras, which was built with state-of-the-art technology and is providing an affordable source of renewable energy. Today, we are working with our partners at IDB Invest to advance the Jilamito project to provide a steady supply power to La Ceiba, the third largest city in Honduras.
“DFC is eager to work to leverage our investment tools—including debt and equity, insurance and technical assistance—to mobilize the investment that will build more infrastructure and create more economic opportunity.
“As neighbors, we share a common destiny, which will be determined by our ability to empower our people, grow our economies, and execute on our shared, core values.”