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Featured Photo: Geothermal energy in Kenya

January 31, 2014

Hot steam is transmitted by pipeline at the Ormat geothermal plant in Kenya, a major source of renewable energy generation, which was recently expanded with the support of OPIC financing. In the foreground, plant managers meet with Hal Connolly, senior advisor for energy and the environment, to Senator Bob Menendez (D-NJ), Chair of the Senate Foreign Relations Committee. Connolly was
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Project spotlight: Hamma desalination plant provides clean drinking water for hundreds of thousands of Algerian families

January 29, 2014

A decade ago, Algeria’s capital city of Algiers was suffering a severe shortage of clean drinking water, resulting in strict rationing, stockpiling, as well as the consumption of dirty water by households and farms. The solution, as with so many major development challenges requiring large investments in infrastructure, came in the form of a public-private partnership involving the Algerian government,
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Creating an impact investing strategy: OPIC’s approach featured in Stanford Social Innovation Review

January 24, 2014

In recent years OPIC has made it a priority to support impact investing and between 2008 and 2012 the Agency supported $2.4 billion in impact investments. Some of the challenges it has encountered in this relatively new investing sector are discussed in this blog post in the Stanford Social innovation Review, where OPIC outlines the process it adopted for identifying
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Getting to dawn in Sub-Saharan Africa: OPIC’s Whalen on the changing investment climate on the continent

January 22, 2014

OPIC Vice President, Structured Finance, Michael Whalen wrote about Africa’s energy deficit in Project Finance International’s 2014 Yearbook, where he said that an improving investment climate and the U.S. Power Africa initiative have created momentum for increased electrification “after years of missed opportunities.” “For a long time global appetite for project finance in Africa was strongly concentrated in natural resource
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Featured photo: OPIC visit to Ghana

January 17, 2014

OPIC President Elizabeth Littlefield holds a press conference in Accra, Ghana following a meeting with Ghana’s Vice President, Kwesi Amissah-Arthur. Littlefield traveled last month with an OPIC delegation to Ghana, Senegal and Liberia, where she toured OPIC-supported projects and met with government and business leaders to discuss development investment opportunities.

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Power Africa leadership convenes at Center for Global Development

January 16, 2014

Mimi Alemayehou, OPIC’s executive VP, participated in a panel discussion on President Obama’s Power Africa initiative held Jan. 15th at the Center for Global Development. She was joined by USAID’s chief coordinator for Power Africa Andrew Herscowitz, Kamran Khan of the Millennium Challenge Corporation and Nilmini Rubin, an advisor to the House Foreign Affairs Committee. The group engaged in lively
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Beyond BRIC: The next economic giants

January 15, 2014

  It’s been 13 years since economist Jim O’Neill coined the term BRIC to refer to the four developing countries (Brazil, Russia, India and China) enjoying strong economic growth and promise rivaling or surpassing that seen in the developed world. Since then, many countries beyond the BRIC four have also started enjoying accelerated growth and economic promise in the developing
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OPIC and Deutsche Bank announce fund supporting microfinance and Smart Campaign principles

January 07, 2014

OPIC, along with Deutsche Bank,  announced its commitment to the $100 million Global Commercial Microfinance Consortium II (“Consortium II”), a fund supporting the growth of microfinance institutions that pursue a high level of client care, transparency of operations and pricing as well as product innovation. The fund is a partnership with investors, including OPIC, who share a focus on responsible
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Year in review: The top five OPIC blog posts of 2013

January 07, 2014

2013 was another banner year for OPIC, which made a record level of commitments in support of U.S. businesses investing in developing countries.  The OPIC blog highlighted many of our key projects and initiatives. Below are our five most popular blog posts from 2013:   1. OPIC to play key role in President Obama’s Power Africa initiative July 02, 2013
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OPIC supported Alto Maipo Hydroelectric Plant named Project Finance International’s Latin America Power Deal of the Year

January 06, 2014

Alto Maipo SpA, which recently closed a $245 million loan from OPIC to construct a hydroelectric power plant in Chile, has been named Project Finance International’s Latin America Power Deal of the Year. The renewable electricity source will become a key generation facility for Santiago, Chile’s largest city and capital. The plant will reduce electricity costs for local residents as
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