OPIC Board of Directors Convenes for Quarterly Meeting
March 19, 2015
WASHINGTON – The Overseas Private Investment Corporation (OPIC), the U.S. Government’s Development Finance Institution, today held a regularly-scheduled quarterly meeting of the agency’s Board of Directors.
The meeting included an agency update from Elizabeth Littlefield, OPIC’s President and CEO, an overview report on OPIC’s portfolio, and discussion on upcoming projects due to be considered later this year.
The agenda also included further details regarding OPIC’s contribution to Vice President Biden’s Caribbean Energy Security Initiative, which entails increased OPIC focus on clean energy projects in the Caribbean. This effort is already being fulfilled by OPIC’s recent financing of Jamaica’s largest private-sector wind energy facility.
In addition, the Board paid tribute to former OPIC board member and USAID Administrator Rajiv Shah and to departing OPIC Corporate Secretary Connie Downs, who is retiring from OPIC after more than twenty years of service. The next scheduled meeting for OPIC’s Board of Directors is in June.
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 $76 billion in U.S. exports and supported more than 278,000 American jobs.