Overseas Private Investment Corporation

Pages:495-497
 
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OVERSEAS PRIVATE INVESTMENT CORPORATION

1100 New York Avenue NW., Washington, DC 20527

Phone, 202-336-8400. Fax, 202-408-9859. Internet, www.opic.gov.

President and Chief Executive Officer Peter S. Watson

Executive Vice President Ross J. Connelly

Vice President, Office of External Affairs Christopher Coughlin

Vice President, Office of Investment Policy Virginia D. Green

Vice President, Finance Department Robert B. Drumheller

Vice President, Insurance Department Michael T. Lempres

Vice President, Department of Investment Daniel A. Nichols

Development and Economic Growth

Vice President, Investment Funds Cynthia Hostetler

Vice President and General Counsel Mark A. Garfinkel

Vice President and Chief Financial Officer Gary A. Keel

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The Overseas Private Investment Corporation is a self-sustaining Federal agency whose purpose is to promote economic growth in developing countries and emerging markets by encouraging U.S. private investment in those nations.

The Overseas Private Investment Corporation (OPIC) was established in

1971 as an independent agency by the Foreign Affairs Reform and Restructuring Act (112 Stat. 2681-790). OPIC helps U.S. businesses invest overseas, fosters economic development in new and emerging markets, complements the

private sector in managing risks associated with foreign direct investment, and supports U.S. foreign policy. OPIC charges market-based fees for its products, it operates on a self-sustaining basis at no net cost to taxpayers.

OPIC helps U.S. businesses compete in emerging markets when private sector support is not availalbe. OPIC offers up to $250 million in long-

term financing and/or political risk insuranceto U.S. companies investing in over 150 emerging markets and developing countries. Backed by the full faith and credit of the U.S. Government, OPIC advocates for U.S. investment, offers experience in risk management, and draws on an outstanding record of success.

OPIC mobilizes America's private sector to advance U.S. foreign policy and development initiatives. Projects supported by OPIC expand economic development, which encourages political stability and free market reforms. OPIC also supported projects to create American jobs and exports--253,000 new U.S. jobs and $64 billion in exports since 1971. OPIC promotes U.S. best practices by requiring projects to adhere to international standards on the environment, worker rights, and...

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