Treasury chief headed to Latin America |
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Fri, 06 Jul 2007 20:14
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WASHINGTON (AP) - Treasury Secretary Henry Paulson, hoping to build stronger U.S. relations in Latin America, will visit Brazil, Uruguay and Chile next week.It will mark his first visits to those countries since taking the helm of the department a year ago, Treasury officials said Friday.Paulson will meet with finance ministers, heads of state, local business leaders and others to discuss ideas on how to 'spread opportunity, reduce poverty and build the middle class in the region and talk about what the United States is doing to help,' the department said.To that end, the United States announced Friday that it will provide some financial backing to a $17.5 million three-year program aimed at increasing investment in infrastructure projects in Latin American and the Caribbean. The U.S. will pony up $4.6 million for the project, which involves the World Bank's private-sector arm, called the International Finance Corp.'Under-investment in electricity, transport and potable water hamstring the region's entrepreneurs and citizens,' Paulson said.On Monday, Paulson heads to Brazil, where he'll meet with government officials and venture capitalists. On Wednesday, he plans to meet with President Luiz Inacio Lula da Silva and other government officials. On Thursday, Paulson goes to Uruguay and will meet with President Tabare Vazquez among others. From there, he'll travel to Chile and will meet with President Michelle Bachelet.Clay Lowery, the Treasury Department's acting undersecretary for international affairs, said Paulson's trip is part of an ongoing outreach effort to the region. When Paulson became Treasury secretary last July he expressed interest in building closer relations and becoming more engaged with officials in the region, Lowery said.The Treasury chief traveled to Guatemala and Peru in March and to Mexico in April. He went to Colombia last August.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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US Treasury announces Latin American infrastructure development fund 