The Alliance for Progress initiated by U.S. President John F. Kennedy in 1961 aimed to establish economic cooperation between North and South America. The aid was intended to counter the perceived emerging communist threat from Cuba to U.S. interests and dominance in the region. The program achieved limited economic advances, but by the early 1970s it was widely viewed as a failure and was disbanded.
“Therefore I have called on all the people of the hemisphere to join in a new Alliance for Progress —alianza para Progreso—a vast cooperative effort, unparalleled in magnitude and nobility of purpose, to satisfy the basic needs of the American people for homes, work and land, health and schools—techo, trabajo y tierra, salud y escuela.” — President John F. Kennedy