OPIC Acting President and CEO Bohigian Joins Presidential Delegation to El Salvador
June 1, 2019
Delegation to observe inauguration of His Excellency Nayib Bukele
San Salvador, El Salvador – Joining the U.S. Presidential delegation to El Salvador marking the occasion of the inauguration of His Excellency Nayib Bukele, OPIC Acting President and CEO David Bohigian issued the following statement:
“Congratulations to the people of El Salvador and Nayib Bukele on his recent election as President. Today’s event symbolized El Salvador’s commitment to democratic values, including free and fair elections.
OPIC is proud of its longstanding partnership with El Salvador, where it has mobilized investment in sectors ranging from water to infrastructure as a stabilizing force in the country and across the region. Today, we recognized OPIC’s recent approval of $350 million in financing to support a power plant in the coastal city of Acajutla—a project that will increase El Salvador’s power generation capacity by 23% and fuel inclusive economic growth.
We look forward to strengthening our relationship with El Salvador’s new government and President as we work toward common goals of advancing development, fostering regional stability, and ensuring security throughout the Western Hemisphere.”
Mr. Bohigian joined Secretary of Commerce Wilbur Ross, U.S. Ambassador to the Republic of El Salvador Jean Elizabeth Manes, and Assistant Secretary of State for Western Hemisphere Affairs Kimberly Breier on the official Presidential delegation.
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 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 investment 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.