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OPIC Presents Partnership Award to Greater San Jose Hispanic Chamber of Commerce

April 27, 2009

SAN JOSE, California  – Dr. Lawrence Spinelli, Acting President of the Overseas Private Investment Corporation (OPIC), today presented the Greater San José Hispanic Chamber of Commerce (GSJHCC) with the OPIC Partnership Award for its consistent efforts to educate its members about OPIC services in order to help them access investment opportunities in emerging markets.

The OPIC Partnership Award recognizes organizations for cooperating with OPIC to encourage American investment in emerging markets, by disseminating information about OPIC products and services to their constituencies.

“OPIC is pleased to present its Partnership Award to the Greater San José Hispanic Chamber of Commerce, for its diligent and successful efforts to help its members invest in emerging markets, in part through the assistance of OPIC,” Dr. Spinelli said in presenting the award to GSJHCC President Jason Saldaña. “The GSJHCC has worked hard to invest its membership with a truly global outlook, particularly in looking toward emerging markets, and as such has been an ideal partner for OPIC. The Chamber has emerged as OPIC’s first point of contact in our efforts to reach entrepreneurs in the San José area.”

Dr. Spinelli noted that the GSJHCC was profiled in OPIC’s 2008 annual report for its members’ participation in OPIC’s 2007 international investment conference in El Salvador, which may result in an affordable housing project in the Dominican Republic, Nicaragua, El Salvador and Kenya involving 14 GSJHCC members. GSJHCC members also attended a recent OPIC workshop for minority- and women-owned businesses, conducted in San Francisco.

Saldaña  said, “The GSJHCC is honored to receive such a distinguished award. Our goal and focus since our inception has always been to introduce global opportunities to our local entrepreneurs though avenues such as international trade delegations, international certification courses, and most importantly, introduction to key contacts and organizations such as OPIC.”

The Greater San José Hispanic Chamber of Commerce is a democratic, open, transparent, membership-driven, entrepreneurial organization committed to serving the needs of the business community in the Greater San José Area. Its membership comprises 37 different nationalities.

OPIC was established as an agency of the U.S. government in 1971. It helps U.S. businesses invest overseas, fosters economic development in new and emerging markets, complements the private sector in managing risks associated with foreign direct investment, and supports U.S. foreign policy. Because OPIC charges market-based fees for its products, it operates on a self-sustaining basis at no net cost to taxpayers.

OPIC’s political risk insurance and financing help U.S. businesses of all sizes invest in more than 150 emerging markets and developing nations worldwide. Over the agency's 38-year history, OPIC has supported $188 billion worth of investments that have helped developing countries to generate over 830,000 host-country jobs. OPIC projects have also generated $72 billion in U.S. exports and supported more than 273,000 American jobs.