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US bridges remittances for Honduras and El Salvador

Thursday, September 23, 2010

With nearly $59 billion in remittances being sent from the United States to Latin America and the Caribbean in 2009, agreements signed between the US and a pair of Central American countries could leverage some of that money flow to help countries finance development in the region.

Secretary of State Hillary Clinton, at a "financial inclusion" conference on the sidelines of the United Nations' General Assembly in New York, said the agreements signed with El Salvador and Honduras give the countries opportunities to harness the financial strength of flows created from people sending money back home. Certain "strong" and "reliable" financial institutions in Honduras and El Salvador not named by the State Department stand to benefit from agreements.

Original source: International Business Times