; (2) including nearshoring as a business line of IDB Invest for the first time in the history of IDB; (3) hosting a high-level dialogue with more than 500 private sector leaders on December 2, 2020, to assess how to increase production capacity and supply chain resilience in the region; and (4) launching the largest private sector coalition in the history of the IDB to explore opportunities for reinvesting in countries in the Western Hemisphere, including through nearshoring initiatives and a toolkit to incentivize and finance nearshoring activities in the Western Hemisphere; Whereas the United States Government has taken steps to advance efforts that would facilitate reshoring and nearshoring in the Western Hemisphere, including by— (1) announcing the first-ever semiconductor forum between the Governments of the United States, Mexico, and Canada and the private sector to align government policies and increase investment in regional semiconductor supply chains; and (2) developing the Americas Partnership for Economic Prosperity to expand regional trade ties, bolster regional economic competitiveness, and strengthen regional cooperation on supply chain resilience, labor and environmental standards, rule of law and anti-corruption initiatives, and other critical issues; and Whereas the United States Government can further leverage diplomatic, foreign assistance, and financing tools to strengthen the participation of Latin American and the Caribbean in global supply chains and address challenges to nearshoring, including through the activities of the United States Agency for International Development and the United States International Development Finance Corporation: Now, therefore, be it