OPIC Selects Seneca International Ltd as Partner in Enterprise Development Network
May 1, 2009
WASHINGTON, D.C. – The Overseas Private Investment Corporation (OPIC) has selected Seneca International Ltd., an export finance company, to serve as a Loan Originator for a new alliance with the private sector designed to support small and medium-sized enterprises (SMEs) expanding into Francophone Africa.
The alliance, the Enterprise Development Network (EDN), will greatly expand the ability of OPIC – the US government agency charged with facilitating US private sector investment in emerging markets – to provide financing to SMEs doing business in developing countries.
Through the support of financial institutions, business consultants, associations, law firms and regional investment promotion agencies, EDN is designed to enhance SME access to OPIC products and services. By empowering such private sector service providers, the network will result in more efficient, cost-effective delivery of services to American businesses.
Seneca International Ltd, of Miami, was established in 1991 to structure international financings in emerging markets. Its founder, Patrick Fournie, lived in West Africa for 20 years. He speaks French and has been an international banker for 30 years, mostly with Citibank.