Overseas Private Investment Corporation
Pages | 501-502 |
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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.
Activities
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