OPIC President & CEO Visits Honduras, Reaffirming U.S. Commitment to Investment in the Region
June 1, 2018
TEGUCIGALPA - Ray W. Washburne, President and Chief Executive Officer of the Overseas Private Investment Corporation (OPIC), the U.S. Government's development finance institution, issued the following statement after his visit to Honduras and meeting this week with Honduran President Juan Orlando Hernández:
"OPIC's investments in Honduras improve infrastructure and energy security, spur economic growth, create jobs, and support women initiatives and small local businesses. The meeting demonstrated the U.S. government’s commitment to bringing greater prosperity to the Honduran people through investment; we appreciate President Hernández’s commitment to paving the way for further U.S. investment with policies that promote transparency and support the rule of law. We look forward to working with President Hernández and the Government of Honduras to ease the way for U.S. investments that will benefit the economies of both our nations."
Mr. Washburne also visited Casa Quinchon, a creative work and event space that has transformed a historic structure in downtown Tegucigalpa and is attracting young entrepreneurs to start and grow their businesses in the urban core. This redevelopment was funded through an OPIC investment in DevEquity, an impact investment fund dedicated to improving the lives of residents in low-income countries through companies that can make a positive social and environmental impact.
Last month, an OPIC delegation joined President Hernández for the opening of Honduras’ first geothermal plant, Geotérmica Platanares, which was supported by $135 million commitment of OPIC financing. The plant will provide sustainable energy to more than 40,000 households.
OPIC currently has $235 million invested in Honduras and roughly $675 million in the Northern Triangle region.
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.