OPIC Welcomes the Mississippi Development Authority to its Partners Program
August 8, 2018
JACKSON, Mississippi – The Overseas Private Investment Corporation (OPIC) on Wednesday welcomed the Mississippi Development Authority to the OPIC Partners Program, a public diplomacy initiative dedicated to expanding knowledge of OPIC’s role supporting private sector investment in emerging markets.
The Jackson, Mississippi-based Mississippi Development Authority, the state’s lead economic and community development agency, works to strengthen businesses in the state and provide technical assistance to local entrepreneurs, small businesses and overseas programs that support minority and women-owned businesses in the state.
As a participant in the OPIC partners program, The Mississippi Development Authority can connect its network of businesses with OPIC’s development finance tools and expertise helping American businesses expand into emerging markets. OPIC, the U.S. Government’s development finance institution, provides tools like loans, guaranties and political risk insurance to help American businesses invest in developing countries, and has a $23 billion global portfolio.
“American businesses of all sizes have much to contribute to the global economy. OPIC’s partnerships with groups like the Mississippi Development Authority, will help us advance our work to mobilize private sector investment to make a positive impact in the world,” said Ray W. Washburne, OPIC President and CEO.
The Mississippi Development authority officially joined the OPIC partners program during the International Finance & Procurement Opportunities workshop Tuesday in Gulfport.
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.