Claim: Because of the Alliance for Progress program initiated by U.S. President John F. Kennedy in 1961, economic assistance to Latin America nearly tripled between fiscal year 1960 and fiscal year 1961; then between 1962 and 1967, the US supplied $1.4 billion per year to Latin America.
Evidence: The Alliance for Progress (Spanish: Alianza para el Progreso), initiated by U.S. President John F. Kennedy in 1961, aimed to establish economic cooperation between the U.S. and Latin America. Because of the program, economic assistance to Latin America nearly tripled between fiscal year 1960 and fiscal year 1961. Between 1962 and 1967 the US supplied $1.4 billion per year to Latin America.