OPIC CEO Littlefield visits Côte d’Ivoire, Opening Office in West Africa to Drive U.S.-led Development Investment in Region
March 23, 2016
WASHINGTON – The Overseas Private Investment Corporation (OPIC), the U.S. Government’s Development Finance Institution, this month announced the opening of OPIC’s first-ever West Africa and Central regional office, located in Abidjan, Côte d’Ivoire .
To recognize the office’s opening, OPIC President and CEO Elizabeth Littlefield is traveling to Abidjan and Dakar, Senegal with a group of international CEOs on a business development and investment mission to explore the increasing opportunity in the region. With a growing economy and need for investment in power, infrastructure, water, agriculture, and other development sectors, OPIC’s ability to spur private investment throughout West Africa arrives at a critical time.
OPIC is the U.S. Government’s development finance institution. OPIC achieves its mission by providing investors with financing, political risk insurance, and support for private equity investment funds, when commercial 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.
“This is an exciting step for the growth of OPIC’s regional presence,” said Littlefield. “As a recognition of mounting investment momentum and rich development impact opportunity across the region, this OPIC office builds a bridge for a strong U.S. business presence in a dynamic investing environment. OPIC’s Côte d’Ivoire regional office is the start of an important chapter for this Agency and for lasting development throughout West Africa.”
OPIC has long supported private investment in impactful development throughout Africa, recently in the form of agriculture modernization in Senegal, water infrastructure in Ghana, and coffee production in Rwanda.
The opening of a dedicated regional office in Abidjan signals both OPIC’s commitment to sparking new investment in this critical region and a recognition of the increasing private sector interest in West and Central Africa as an exciting investment destination.
The Managing Director of OPIC’s West Africa office is Subha Nagarajan. Businesses and investors interested in partnering with OPIC in the region should visit www.opic.gov.
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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 commercial 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 aims to raise the industry and regional standards of the countries where it funds projects. OPIC services are available for new and expanding business enterprises in more than 160 countries worldwide.