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The World Needs More Power

August 19, 2014

Today is World Humanitarian Day, a United Nations (U.N.) commemoration to “celebrate the spirit that inspires humanitarian work around the world.” This year, the UN’s theme is “The World Needs More…” As anyone who works in global development knows, there are many ways to answer that sentence. This year, OPIC highlights the world’s need for more power. Not only does
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Power Africa one year later: Our work is just beginning

July 07, 2014

By Judith Pryor Vice President, Office of External Affairs, Overseas Private Investment Corporation It’s been one year since President Obama announced the ambitious Power Africa initiative to double access to power in Sub-Saharan Africa, where the majority of people live without lights, refrigeration and most of the other fixtures of modern life. Bringing about change on such a vast continent where
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The little document that makes a big difference in project finance: Why a Bankable PPA helps private investment in African power

June 13, 2014

One of the ways OPIC supports President Obama’s Power Africa initiative – in addition to providing loans and insurance to help build new power plants – is by sharing its extensive experience doing business in emerging markets. The Agency has supported multiple large-scale power projects in Africa and understands the hurdles to successful development. One document OPIC helped develop to
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Featured photo: Medical Credit Fund, winner of OPIC Impact Award for Access to Finance

May 30, 2014

A healthcare professional weighs a newborn at the Mission Mbagala clinic on the outskirts of Dar es Salaam, Tanzania. The clinic was the recipient of an affordable loan from Medical Credit Fund, an OPIC-supported project and the recipient of the 2014 OPIC Impact Award for Access to Finance. Medical Credit Fund is the first lending institution of its kind in
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“My unique connection to Power Africa:” OPIC’s Alemayehou featured in USAID newsletter

March 27, 2014

In the summer of 2013, President Obama announced the Power Africa initiative, designed to help African countries responsibly develop extensive energy resources with the aid of private sector investors. OPIC committed up to $1.5 billion in financing to support this endeavor, in keeping with the agency’s longstanding history of supporting projects in Sub-Saharan Africa. OPIC Executive Vice President Mimi Alemayehou,
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OPIC board approves six deals in sectors from renewable resources to small business lending

March 20, 2014

OPIC’s Board of Directors approved commitments of OPIC support to the following projects at its March 20 meeting: Risk-sharing agreements to support Citi lending in developing countries. Two risk-sharing agreements designed to provide OPIC guarantee of loans made by Citibank to borrowers in OPIC-eligible countries around the world for both commercial lending and microfinance loans. OPIC’s guarantee limit through the
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Spotlight on OPIC Impact Award winners: SunEdison

March 19, 2014

On a quiet plain in the rural center of South Africa sits a small town called Boshof. It’s far from the bustling cities of Cape Town and Johannesburg, and hundreds of miles from the dramatic, hilly coastline of the Cape of Good Hope. But Boshof, in the country’s underdeveloped Free State, is the site of a major project to generate
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Measuring and monitoring impact: Five ways development impacts lives (Part Three in a series)

November 06, 2013

This post is the third in a series on OPIC’s work measuring and monitoring the developmental impact of the projects it supports. To view the previous posts click here and here. Some benefits of an investment in a developing country are obvious. A new power plant, for example, provides a reliable source of electricity to people who may have been
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Powering Africa: A massive challenge and a major investment opportunity

July 26, 2013

Sub-Saharan Africa has seen significant economic progress in recent years with growth rates in many countries that are among the highest in the world, and large numbers of once poor people joining the middle class. But this recent progress sits against a backdrop of major ongoing developmental challenges, many of them related to access to electricity. Because it is essential
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OPIC to play key role in President Obama’s Power Africa initiative

July 02, 2013

OPIC, which has a long history of supporting projects in Sub-Saharan Africa, will now play a key role in a new U.S. initiative to double access to electricity in Sub-Saharan Africa. The region has in recent years seen strong economic growth and an expanding consumer class, but limited power remains a major problem, with more than two-thirds of the population
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