OPIC Workshop in Boston Draws 200 Small Businesses from 13 States
- OPIC Offers Financing and Political Risk Insurance to Support American Businesses Looking to Expand into Emerging Economies Worldwide
WASHINGTON – The Overseas Private Investment Corporation (OPIC), the U.S. Government’s Development Finance Institution, this week drew more than 200 guests to its Expanding Horizons small business workshop in Boston, Massachusetts.
The event is the 27th in a decade-long nationwide series OPIC hosts to educate small businesses about the opportunities of expanding into developing markets, and the ways OPIC can support this growth. The event was held in cooperation with the Aspen DIAspora Investment Forum for East Africa.
Senators Kelly Ayotte (NH) and Ed Markey (MA) addressed the attendees by video, stressing both the importance of U.S. business presence abroad and the valuable tools OPIC offers to foster this private sector growth.
“I want to commend OPIC for its commitment to helping America’s small businesses compete in the global marketplace,” said Sen. Markey in his remarks. “With most of the world’s consumers living outside the United States, our small businesses need to have the ability to tap into these opportunities. OPIC organized this workshop so U.S. small businesses can have all the tools they need to succeed in the global economy.”
OPIC speakers outlined the innovative financing and political risk insurance products that the agency has provided for more than 40 years to help U.S. businesses successfully invest in emerging markets. Other speakers at the workshop included senior government representatives from the U.S. Trade Development Agency, the U.S. Small Business Administration, the U.S. Department of Commerce, and the Massachusetts Export Center.
Since its establishment in 1971, OPIC commitments of $3.5 billion of financing and insurance to projects sponsored by Massachusetts companies have supported nearly 10,000 U.S. jobs, generated $2.6 billion in U.S. exports and an estimated $286 million in procurement of goods and services from Massachusetts.
The next Expanding Horizons Workshop for 2015 is Nov. 19 in Nashville. Details and registration are available at www.opicevents.com.
OPIC is the U.S. Government’s development finance institution. It mobilizes private capital to help address critical development challenges and in doing so, advances U.S. foreign policy and national security priorities. 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, political risk insurance, and support for private equity investment funds, when funding cannot be obtained elsewhere. 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.
All OPIC projects adhere to high environmental and social standards and respect human rights, including worker's rights. By mandating high standards, OPIC helps raise the industry and regional standards of the countries in which its projects operate. OPIC services are available for new and expanding business enterprises in more than 160 countries worldwide.