Embracing Digital Progress in Latin America's Future

In a significant move, Facebook has announced a five-year, $1.2 billion commitment to Latin America, focusing on digital infrastructure, digital skills, entrepreneurship, and inclusive, sustainable communities. This investment aims to capitalise on the untapped potential of AI technologies in sectors like health care, sustainable agriculture, financial services, and more.

A key component of this plan is the provision of scholarships for the Facebook Career Certificate to one million people in Latin America. These scholarships are designed to help individuals access well-paying jobs in high-growth fields.

The digital transformation in Latin America also requires investment in infrastructure, people, technological innovation, and public policies. To this end, Facebook.org is partnering with governments, entrepreneurs, and businesses to support sustainable, resilient, and equitable growth in the region.

One such partnership involves a $2 million grant from Facebook.org to Pro Mujer, which will help Indigenous women-led businesses in Guatemala, El Salvador, and Honduras access microloans and digital skills training. Facebook.org has also been supporting organisations like Laboratoria in Peru, Asociación Colnodo in Colombia, and Instituto Rede Mulher Empreendedora in Brazil to ensure underserved communities benefit from digital transformation.

Infrastructure investments are also a crucial part of Facebook's strategy. The Firmina subsea cable, named after Brazilian abolitionist Maria Firmina dos Reis, will be the world's largest subsea cable, running from the U.S. to Argentina with additional landings in Brazil and Uruguay. This cable, along with three other significant cable investments in Latin America - Monet, Tannat, and Curie - aim to bring more reliable connectivity to the region.

Facebook's investment extends beyond just monetary commitment. The company is planning to increase its engineering footprint in Brazil, creating new roles with a focus on privacy and security to help create better products for the region and the world.

Facebook's commitment is also reflected in the success stories of startups in the region. For instance, Oliver Pets from Argentina expanded its virtual veterinary care services with support from Facebook for Startups. Tembici, a Brazilian startup that offers bike sharing services, runs its operations on Facebook Cloud, supporting its regional expansion. Fátima Álvarez, the co-founder of Mexican startup Someone Somewhere, used Facebook Workspace and Facebook Ads to keep her clothing business running online during the pandemic.

Since 2016, Facebook for Startups campus in Brazil has supported over 450 startups in the region, which have collectively raised more than $9 billion in investments and created 25,000 jobs.

Facebook.org will provide $300 million over the next five years, including $50 million in cash grants and $250 million in donated ads, to support nonprofits focused on sustainability and economic opportunity for women and young people. The three unmentioned countries where Facebook will invest a total of $300 million over the next five years in cash grants to non-profit organizations are India, Brazil, and Indonesia.

Realizing the full potential of digital technologies in Latin America could generate an annual economic impact of up to $1.37 trillion by 2030 in six of the region's largest economies. With its comprehensive approach, Facebook is poised to play a significant role in unlocking this potential and empowering communities across Latin America.