OPIC Selects NGO Fund Sevastopol as Originator in Enterprise Development Network
June 16, 2011
WASHINGTON, D.C. – The Overseas Private Investment Corporation (OPIC) has selected the NGO Fund “Sevastopol”, an institution assisting public and private organizations and companies in fund raising, development and growth, to serve as an originator for a growing alliance with the private sector designed to support small and medium enterprises (SMEs) expanding into emerging markets overseas.
The alliance, the Enterprise Development Network (EDN), is expanding the ability of OPIC – the U.S. government agency charged with facilitating U.S. 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 service providers, the network is resulting in more efficient, cost-effective delivery of services to American businesses.
The NGO Fund "Sevastopol” is a Regional Development and Investment Promotion Agency founded in 2009, and based in Sevastopol, Ukraine. The mission of the agency is to support government, sole proprietors, public and private organizations and companies in social and economic development of Sevastopol and Crimea. The agency offers a wide range of services including fund raising, facilitation of foreign direct investments and loans, business partner searches, etc.
In order to support the economic development of Sevastopol and Crimea, the Fund "Sevastopol" has established contacts with a number of important international institutions. These institutions include OPIC, the US, German and UK Embassies to Ukraine, USAID, EU-Ukraine Business Council (Brussels), US-Ukraine Business Council (Washington), and many others. Since February 2009, the Fund has arranged more than 30 different significant events to promote the city's potential such as the presentation of Sevastopol to the British Parliament, and arrangement of a Sevastopol delegation visit to the United Arab Emirates.