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Photo: Jim Watson/AFP via Getty Images

Vice President Kamala Harris will announce Monday that seven companies have committed to investing in Guatemala, Honduras and El Salvador, senior White House officials said.

Why it matters: The commitments will push administration-led private sector investments in Central America to over $1.2 billion, as Harris doubles down on a multi-pronged effort to address the root causes of migration from the region to the U.S.-Mexico border.

  • The administration announced a first round of $750 million in investment in May.
  • Harris will discuss the ongoing task during a meeting Monday with chief executives from companies including Microsoft, the parent company of Peet's Coffee, PepsiCo Latin America and Nespresso.

Between the lines: President Biden assigned the vice president the complex task of addressing economic, health and political causes that have helped drive a surge of migration to the border.

  • Harris visited Guatemala and Mexico in early June, where she announced initiatives to address corruption and human trafficking in Central America.
  • Along the way, the issue has threatened to become a political liability for the vice president.
  • The challenge has been magnified amid turnover in her office, and as critics have parsed her every move.

What we're watching: A growing coalition of private, nongovernmental and foundation leaders is announcing plans for significant investments aimed at vulnerable populations in the region.

  • Parkdale Mills will build a new yarn spinning facility in Honduras.
  • Grupo Mariposa, a Guatemalan company, will provide more than 70,000 neighborhood stores access to credit and digital tools.
  • CARE International is announcing a $50 million Center for Gender Equity.
  • Additionally, Mastercard, Microsoft and Nespresso — part of the group that announced initial commitments in May — are increasing their involvement.

But, but, but: In a region strife with corruption, violence and weak governance, it's unclear whether the cash infusion will translate into stronger democratic institutions.

  • A senior White House official told Axios the vice president has challenged U.S. agencies involved with regional activity to have more rigorous monitoring and oversight.
  • "We've also been very clear with the governments in order to make these work, [they're] going to have to implement certain elements of reform, whether that's on the tax regulation, whether it's how shipping has been done," the official said.

Go deeper

Biden blames Trump for Jan. 6 Capitol riot

President Biden was unsparing in his criticism of former President Trump for fanning the flames of the Jan. 6 attack on the U.S. Capitol in a speech marking the first anniversary of the attack.

Driving the news: "The former president of the United States of America has created and spread a web of lies about the 2020 election ... He sees his own interest as more important than this country's interest, America's interest," Biden said Thursday, without using Trump's name in his remarks.

Updated 60 mins ago - Economy & Business

Janet Yellen co-opts Reaganomics phrase for new Davos speech

Treasury Secretary Janet Yellen at a speech this week. Photo: Alex Wong/Getty Images

The U.S. needs to focus on increasing its productive potential, Treasury Secretary Janet Yellen told world leaders Friday, calling for what she terms "modern supply side economics."

Why it matters: She co-opted a phrase traditionally used by political conservatives to describe low-tax and deregulatory policies — and framed the Biden administration's initiatives as the best path forward to achieve greater national prosperity.

National Archives releases Trump White House records to Jan. 6 panel

Photo: Chip Somodevilla/Getty Images

The National Archives on Thursday evening released records of former President Trump's White House to the House Jan. 6 Select Committee, the agency said.

Why it matters: The committee now has documents that Trump attempted to keep hidden, arguing that their release would undermine his executive privilege.