OPIC Statement on President Trump's National Security Strategy
December 18, 2017
WASHINGTON – Announced by President Trump today, the Administration’s new National Security strategy “will shift away from a reliance on assistance based on grants to approaches that attract private capital and catalyze private sector activity.”
President Trump’s national security strategy rightly recognizes the power of mobilizing private capital in advancing our foreign policy and enhancing American influence. We look forward to working with our partners in government to create a modern and strengthened development finance institution to better meet the challenges of the 21st century.
A modernized approach by the U.S. government to development finance will help achieve the strategy’s objectives to grow aspiring partners; promote free, fair, and reciprocal economic relationships; increase investment in regions important to the American interest; and empower women and youth. By partnering with others who share our values, we can expand the impact of our investments and promote stability which makes America stronger and more secure.
The Overseas Private Investment Corporation (OPIC) is a self-sustaining U.S. Government agency that helps American businesses invest in emerging markets. Established in 1971, OPIC provides businesses with the tools to manage the risks associated with foreign direct investment, fosters economic development in emerging market countries, and advances U.S. foreign policy and national security priorities. OPIC helps American businesses gain footholds in new markets, catalyzes new revenues and contributes to jobs and growth opportunities both at home and abroad. OPIC fulfills its mission by providing businesses with financing, political risk insurance, advocacy and by partnering with private equity fund managers.
OPIC services are available to new and expanding businesses planning to invest in more than 160 countries worldwide. Because OPIC charges market-based fees for its products, it operates on a self-sustaining basis at no net cost to taxpayers. All OPIC projects must adhere to best international practices and cannot cause job loss in the United States.