At a recent two-hour roundtable in Miami, the U.S. Department of State announced plans to allocate $4.3 million through various public and private entities to encompass broader potential energy sectors in the Caribbean region.
During the U.S. and Caribbean Prosperity Roundtable Nov. 15 at Miami’s Westin Coral Gables Colonnade Hotel, the State Department revealed that it will program finances via its own Bureau of Energy Resources, USAID and the Overseas Private Investment Corp.
The Caribbean Energy Security Initiative and the Caribbean 2020 Strategy are designed to maximize energy security for area leaders, with a focus on investing in clean and renewable energy sources.
The annual event, attended both by government personnel and private sector representatives, focused this year on developing ideas for economic trade promotion, tourism, and additional policy reforms to improve economic growth in the Caribbean.
Kenneth Merten, who serves as acting principal deputy assistant secretary for the Bureau of Western Hemisphere Affairs, led this year’s roundtable. The forum reiterated the United States’ dedication to the mission of increasing security, prosperity and the well-being of citizens both in the U.S. and in the Caribbean region.
The State Department described the Caribbean area as the nation’s “third border” on its website, emphasizing its common interests and goals and citing the U.S. as the region’s main trading partner.