Print this pagePrint

Press Release

Friday, January 6, 2006

Agreement Boosts OPIC Support for U.S. Investment in Nicaragua

WASHINGTON, D.C. – Strengthening its support for U.S. investment in Central America, the Overseas Private Investment Corporation (OPIC) and a Nicaraguan investment promotion agency today concluded an agreement to inform U.S. small businesses of OPIC programs in the country.

OPIC President and CEO Robert Mosbacher, Jr. and Juan Carlos Pereira, executive president of PRONicaragua, an independent Nicaraguan government agency, signed a memorandum of understanding establishing an outreach program to be implemented by a joint working group drawn from the two agencies.

Specifically, OPIC staff members will train PRONicaragua personnel to inform prospective U.S. small business investors of OPIC programs and services, screen potential investors and projects, and disseminate information on OPIC support for projects in the franchising, housing and agribusiness sectors.

Central America is a priority region for OPIC in 2006: in his first overseas trip as OPIC president and CEO last October, Mosbacher joined U.S. Secretary of Commerce Carlos Gutierrez on a five-day trip to El Salvador, Guatemala and Honduras – the first U.S. business development mission to the region since the Central American Free Trade Agreement was enacted in August 2005.

“Nicaragua and Central America generally, are dynamic emerging markets that U.S. small businesses should consider in their expansion plans. As the region’s investment climate continues to improve, lucrative opportunities await American companies that invest now,” Mosbacher said.

"OPIC’s partnership with PRONicaragua will inform far greater numbers of U.S. small businesses about our programs than OPIC could reach alone, so we expect a significant number of projects to result from today’s initiative,” Mosbacher added.

Pereira said, “PRONicaragua has developed a sizable portfolio of potential projects ready for presentation to potential U.S. investors, all of whom will benefit from the knowledge of OPIC support. We look forward with enthusiasm to implementing our partnership with OPIC.”


OPIC is the U.S. Government’s development finance institution.  It mobilizes private capital to help solve critical development challenges and in doing so, advances U.S. foreign policy.  Because OPIC works with the U.S. private sector, it helps U.S. businesses gain footholds in emerging markets catalyzing revenues, jobs and growth opportunities both at home and abroad.  OPIC achieves its mission by providing investors with financing, guarantees, political risk insurance, and support for private equity investment funds.

 

Established as an agency of the U.S. Government in 1971, OPIC operates on a self-sustaining basis at no net cost to American taxpayers. OPIC services are available for new and expanding business enterprises in more than 150 countries worldwide. To date, OPIC has supported nearly $200 billion of investment in over 4,000 projects, generated $74 billion in U.S. exports and supported more than 275,000 American jobs.