Overseas Private Investment Corporation

Pages501-502

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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 Kirk Robertson

Vice President, Investment Development Samuel Smoots, Acting

Vice President and General Counsel Jane Chalmers, Acting

Vice President and Treasurer Mildred O. Callear

Vice President, Finance Robert B. Drumheller

Vice President, Insurance Rod Morris

Vice President, Investment Funds Jeffrey Griffin

Managing Director for Administration Michael C. Cushing

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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 by encouraging U.S. private investment in those nations.

The Overseas Private Investment Corporation (OPIC) was established as an independent agency by the Foreign Affairs Reform and Restructuring Act of 1998 (112 Stat. 2681-790). OPIC assists American investors in four principal ways: financing of businesses through loans and loan guaranties; supporting private investment funds which provide equity for U.S. companies investing in projects overseas; insuringinvestments against a broad range of political risks; and engaging in outreach activities. All of these programs are designed to reduce the perceived stumbling blocks and risks associated with overseas investment.

Organized as a corporation and structured to be responsive to private business, OPIC is mandated to mobilize and facilitate the participation of U.S. private capital and skills in the economic and social development of developing countriesand emerging economies. Currently, OPIC programs are available for new business enterprises or expansion in some 140 countries worldwide. The Corporation encourages American overseas private investment in sound business projects, thereby improving U.S. global competitiveness, creating American jobs, and increasing U.S. exports. The Corporation does not support projects that will result in the loss of domestic jobs or have a negative impact on the host country's environment or workers' rights.

The Corporation is governed by a 15-member Board of Directors, of whom 8 are appointed from the private sector and 7 from the Federal Government.

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