OPIC President in Morocco to Engage Business Leaders, Spur Regional U.S. Investment
March 4, 2015
WASHINGTON – Elizabeth Littlefield, President and CEO of the Overseas Private Investment Corporation (OPIC), the U.S. Government’s development finance institution, this week visited Morocco to meet with senior government and private business sector leaders in an effort strengthen economic ties between the U.S. and Morocco and expand OPIC’s financing and insurance portfolio in the country.
In Casablanca, she met with representatives from the American Chamber of Commerce as well as Moroccan business association CGEM to discuss OPIC’s offerings of development financing and political risk insurance to U.S.-connected private investors seeking to expand into the world’s emerging markets and address development needs. Littlefield’s outreach aimed to further catalyze private capital interest in Moroccan opportunity.
Since its establishment in 1971, OPIC has committed over $625 million of financing and insurance to private sector-led development projects in Morocco, the most recent being a $20 million commitment with Attijariwafa Bank to expand lending to Moroccan Small and Medium Enterprises, with intent to boost employment and promote economic and social development.
Littlefield, who has led OPIC since 2010 and has helped to grow the Agency’s worldwide impact in emerging markets, also visited Morocco’s capital Rabat, where she met with U.S. Ambassador Dwight Bush and USAID’s Mission Director Dana Mansuri to spread OPIC’s development finance role in the U.S. efforts to reinforce Morocco’s growing economy.
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.