PORT-OF-SPAIN, Trinidad (AP) – President Barack Obama is announcing a $30 million initiative to increase security in the Caribbean as a summit of Western Hemisphere democracies starts.

Obama also on Friday announced a fund to help provide small loans to entrepreneurs. Such microfinance loans have proved successful in other developing regions.

Obama says he wants a regional partnership on energy and environmental issues to confront the threat of climate change. Obama said nations need to work together to produce and use energies to create jobs as he opened the Summit of the Americas in Trinidad and Tobago.

Obama also said his nation would be a friend to its neighbors because the United States’ future is bound to them.


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