OPIC’s Impact Awards: A recap in pictures
OPIC recognized seven clients for excellence in development at the May 19 Impact Awards, which featured keynote addresses from Ambassador Susan Rice and Myron Brilliant of the U.S. Chamber of Commerce, a new video showcasing OPIC’s work, as well as clients from Sub-Saharan Africa to Latin America who have partnered with OPIC to improve people’s lives.
Here’s a look at the work these clients are supporting.
Innovation: Belstar Development LLC, Ghana
Belstar was recognized for its work as the lead investor in the Ghana National Medical Equipment Modernization Project, a massive undertaking to improve the quality and availability of care in Ghana. OPIC supported the project with political risk insurance. Here, health care workers are dispatched to a series of mobile clinics aimed at reaching the country’s rural population.
Development Impact: Bridge International Academies, Kenya
Bridge is helping provide a quality and affordable education to thousands of low-income children in Kenya through a model in which instructors use e-books to access a standardized curriculum. Bridge expects to educate 300,000 students in Kenya and create hundreds of local jobs in the process. OPIC provided financing to this project. In this picture an instructor at a Bridge school shows how he uses technology to access a standard curriculum.
American Small Business: CSI Latina, Latin America
CSI Latina Financial Inc. is a Miami small business that used OPIC financing to support small and medium enterprises in Latin America by providing leases of information technology equipment including IT and communications products, heavy machinery, manufacturing equipment and furniture. By enabling businesses to access this critical equipment by lease rather than purchase, CSI helps them overcome budget constraints and achieve greater financial flexibility
Access to Finance: Global Communities Vitas s.a.l., Lebanon
Global Communities is a not-for-profit organization that works closely with local communities in the developing world to provide financing and other support to improve the lives of some of the world’s most vulnerable people. OPIC financing to Global Communities Vitas facility supported more than 36,000 small microfinance loans in Lebanon.
Renewable Resources (non-energy): Root Capital, Sub-Saharan Africa and Latin America
Root Capital works to empower small rural farmers throughout Latin America and Sub-Saharan Africa by providing financing for farm inputs such as fertilizer, equipment and seeds, when commercial loans are not available. OPIC financing has helped Root provide loans in 32 countries from Bolivia to Swaziland.
Development Impact: Sante GMT, Georgia
Sante GMT is a food and beverage producer in Georgia that used OPIC loans to modernize its processing facility and expand beyond milk production into a line of juices, yogurts, cheeses and dessert foods. The project proved highly developmental not only because it enhanced the country’s food supply but because it provided a source of income for thousands of rural family farmers who previously had no way of selling the milk produced on their land.
Renewable Resources: Simpa Networks, India Simpa Networks is bringing solar-powered electricity to some of the 400 million people in India who live in rural villages far from the central grid. Simpa provides home solar systems that are easy to use and affordable. It is using an OPIC loan to expand its customer base from 5,000 to as many as 40,000.