WASHINGTON, D.C. - A U.S. Government delegation, consisting of representatives from USAID, the Millennium Challenge Corporation and the U.S. Departments of State, Treasury, Justice and Commerce traveled to El Salvador to sign a Joint Statement of Principles with the Government of El Salvador. The agreement will formally implement the Partnership for Growth initiative between the United States and El Salvador.

Partnership for Growth is a signature effort of President Barack Obama's development policy, focused on economic growth as the core priority for United States development efforts. President Obama and President Mauricio Funes announced the U.S.-El Salvador Partnership for Growth during President Obama's March 2011 visit to El Salvador.

Assistant Secretary of State for Western Hemisphere Affairs Jose Fernandez signed the agreement today. Deputy Assistant Administrator for Latin America and the Caribbean Mark Lopes represented USAID.

The Joint Statement of Principles signals our two countries' intent to pursue a joint action plan to address the most critical constraints to broad-based, sustainable, and inclusive growth in El Salvador. The effort recognizes the important role of policy reforms to support the private sector and civil society in increasing El Salvador's participation in the global economy.

Partnership for Growth is not a new initiative focused on improving a single sector, but rather a comprehensive proposal aimed at accelerating and sustaining broad-based economic growth. In addition to El Salvador, the United States is working with the Philippines, Ghana and Tanzania on similar partnerships, with the aim of creating the next generation of emerging markets.