GUATEMALA CITY — The United States will pump $1 billion into Guatemala's private sector to spur investment and create jobs, the head of a U.S. government agency said on Wednesday. "It's a billion dollars of financing from us, which should catalyze about $4 billion," Adam Boehler, chief executive of the U.S. International Development Finance Corporation (DFC) told Reuters after he signed a memorandum of understanding. By $4 billion, he was referring to projected multiplier effects of the private sector financing. The potential scope of the deal was not previously known. On Tuesday, the U.S. embassy in Guatemala said the two sides would sign a memorandum of understanding to "stimulate" $1 billion of private sector investment.

Source: International New York Times January 15, 2020 23:15 UTC