OPIC partners pay back: Our 2016 partners round-up
OPIC is able to operate as a self-sustaining U.S. Government agency because it works with clients that have strong business plans for supporting development, and generates money from the projects it supports. In fiscal year 2015, 35 OPIC partners repaid their OPIC loans in full, representing a total of $656.2 million over the life of the loans.
Over the past year, we’ve featured several of our partners that repaid their loans in full in 2016. Here are some of their stories.
Bringing eye care to the poorest. In 2010, OPIC committed a $5 million loan to the Eye Fund I, a socially-focused nonprofit investment fund committed to reducing blindness around the world by providing financing for the hospitals and clinics that serve the poor. The Eye Fund has since helped support almost 50,000 sight-saving surgeries and repaid their loan in full. Learn more
Bolstering critical infrastructure in Latin America. Five years ago, OPIC agreed to provide $55 million to Aeris Holding, the operating company of the Juan Santamaria International Airport in San Jose, Costa Rica, to complete a major restructuring that would double the passenger capacity of one of the busiest airports in Central America. Aeris, an affiliate of HAS Development Corp. of Houston, prepaid the loan by issuing debt in the capital markets, a milestone achievement that indicates it has become bankable by private sources of finance. Learn more
Upgrading Georgia’s dairy industry. In 2007, OPIC provided Sante GMT, a Georgian producer of milk and dairy products, with a $4 million loan, which it used to increase and modernize its production facility in Georgia. In subsequent years, OPIC committed additional financing, totaling $13.8 million, to help Sante invest in energy efficiency and add butter, cheese, and dessert foods to its production, and has helped create income for thousands of rural Georgian farmers. Learn more
Expanding access to quality education in Nigeria. In 2006, OPIC committed a $3,250,000 loan to support the construction of a new campus for the American International School of Abuja (AISA), a day school educating Nigerian and international students from preschool to grade 12 in Nigeria’s capital. In addition to expanding access to quality education in central Nigeria, ASIA actively supports Nigerian public schools in the region by training teachers in literacy teaching techniques and the use of technology in the classroom and donating used books, computers and supplies. Learn more
Reaching some of the world's poorest communities in Latin America. OPIC has provided multiple loans to Seattle-based Global Partnerships, a nonprofit social investment fund, to support microfinance lending to poor communities in Latin America. Along with providing loans to small farmers and entrepreneurs, it provides services such as education, training, and healthcare. Global Partnerships Social Investment Fund 2010, recently repaid its loan of $6,775,000. Learn more