OPIC Selects Cross Border Markets LLC as Originator In Enterprise Development Network
July 10, 2012
WASHINGTON, D.C. – The Overseas Private Investment Corporation (OPIC), the U.S. Government’s development finance institution, has selected Cross Border Markets LLC, an emerging market debt financing and advisory organization based in Westchester County, New York, to serve as an originator for a growing alliance with the private sector designed to support small and medium-sized 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.
CBM brings together the talents and experience of Steven E. Halliwell, former Citibank head of corporate finance for Eastern Europe, Richard L. Smith, who served as the first Country Head for Citibank Kazakhstan and since then as a Director, CEO, and Lead Consultant to many emerging market banks, and Jennifer H. Windus, a Washington DC-based executive with many years professional experience with US government trade and development agencies. Visit Cross Border Markets LLC on the web at: www.crossbordermarkets.com.
OPIC is the U.S. Government’s development finance institution. It mobilizes private capital to help solve critical development challenges and in doing so, advances U.S. foreign policy. Because OPIC works with the U.S. private sector, it helps U.S. businesses gain footholds in emerging markets catalyzing revenues, jobs and growth opportunities both at home and abroad. OPIC achieves its mission by providing investors with financing, guarantees, political risk insurance, and support for private equity investment funds.
Established as an agency of the U.S. Government in 1971, OPIC operates on a self-sustaining basis at no net cost to American taxpayers. OPIC services are available for new and expanding business enterprises in more than 150 countries worldwide. To date, OPIC has supported more than $200 billion of investment in over 4,000 projects, generated an estimated $75 billion in U.S. exports and supported more than 276,000 American jobs.