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Obama highlights OPIC’s role supporting development in India

January 27, 2015

President Barack Obama this week highlighted OPIC’s work supporting lending to small and medium businesses in India, when he spoke at the U.S. India Business Council. Obama, who visited India along with OPIC President Elizabeth Littlefield to mark the anniversary of India’s independence, said that OPIC financing would support lending in many of India’s rural and urban regions that are
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Biden recognizes OPIC leadership in Caribbean clean energy efforts

January 27, 2015

Vice President Joe Biden highlighted OPIC’s work helping to introduce renewable energy to the Caribbean, when he spoke this week at an international energy summit. Biden highlighted OPIC’s support for a project to build the largest private-sector wind farm in Jamaica. Jamaica, like many other Caribbean islands, depends heavily on imported fuel to meet its energy needs. The new 34-megawatt
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Democracy and progress in India

January 26, 2015

By Elizabeth L. Littlefield President and CEO, Overseas Private Investment Corporation This post also appeared on The White House Blog. Sixty-five years ago this week, India’s post-independence democratic constitution went into effect, paving the way for the country to become not only a democracy but the world’s largest democracy. Today, as a country of well over a billion people encompassing
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Year in review: OPIC’s top blog posts of 2014

December 22, 2014

OPIC extended its work addressing major world development challenges in 2014, supporting projects to build power plants and other major infrastructure, increase access to food and clean drinking water, introduce cleaner sources of energy, improve the quality of healthcare and help individuals lift themselves out of poverty by providing affordable mortgages to build stable homes and small businesses. We’re recapping
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An OPIC anniversary: Good business, good government

December 11, 2014

By Elizabeth Littlefield  President and Chief Executive Officer, OPIC Thirty years ago this week, OPIC, the U.S. Government’s development finance institution, celebrated a rare feat in the federal government: it made good on its promise to pay back every cent of the $106 million that Congress had allocated to start the agency in 1971. The occasion was heralded by President Ronald
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From mom-and-pop to job engine: How OPIC helped hundreds of small businesses in the West Bank

December 09, 2014

This post by James C. Polan, OPIC’s Vice President for Small and Medium Enterprise Finance, was originally featured on the U.S. State Department’s DipNote blog. The original post can be viewed here. Small businesses create jobs. It’s a widely accepted economic truth, but it’s not the whole story. The fact is, small businesses need money to grow, but they often
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‘Renewable energy is critical’: OPIC is featured in The Jerusalem Post

December 05, 2014

The Jerusalem Post highlighted an upcoming trip by OPIC’s Brian O’Hanlon to a green energy conference in Israel. O’Hanlon, OPIC’s director of business development for renewable energy and sustainable development, plans to attend the Eilat Eilot Green Energy Conference to identify green technology projects that can help emerging markets develop using a clean, sustainable energy strategy. “Renewable energy is critical
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What renewable energy investors can learn from Chile

December 02, 2014

While many countries have sought to accelerate the development of renewable resources, Chile has been particularly successful in doing so. As of October, Chile’s installed renewable energy capacity was 1.8 gigawatts, with 855 more megawatts under construction. In this guest post in an industry publication, OPIC Structured Finance directors James Meffen and Dairo Isomura analyzed Chile’s success and outlined some
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Featured photo: Generating power in Jordan

November 07, 2014

Over the past few years, strong economic growth in Jordan has increased the demand for power beyond the country’s generation capacity. The 240MW AES Levant Power Plant, which was financed by a $170 million OPIC loan in addition to a $100 million loan from the European Bank for Reconstruction and Development, is strengthening the stability and supply of energy in
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Video: How one solar project brings multiple benefits to a community

October 30, 2014

In June, OPIC committed financing to First Solar, Inc. to support construction of the Luz del Norte solar photovoltaic park in Chile’s Atacama desert. The plant will be the largest photovoltaic project in Latin America, with a capacity of 141 megawatts. In addition to introducing a clean source of fuel in Chile, the project is bringing many additional benefits to
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