OPIC Acting President & CEO Bohigian Concludes Successful Visit to Caribbean
May 23, 2019
WASHINGTON – David Bohigian, Acting President and Chief Executive Officer of the Overseas Private Investment Corporation (OPIC), the U.S. Government’s development finance institution, today concluded travel to Haiti, Jamaica, the Dominican Republic, St. Lucia, and the Bahamas, where he led a high-level OPIC delegation to discuss opportunities for U.S. investment in infrastructure, energy, water, and women’s economic empowerment as well as highlight security cooperation in the region.
“By partnering with our Caribbean neighbors to advance priorities like expanding access to low-cost energy, supporting critical infrastructure, and empowering women, OPIC is working to more effectively leverage private sector investment as a tool for improving lives, fostering stability, and advancing security in the Western Hemisphere,” said Bohigian. “Through this visit, OPIC looks forward to creating new opportunities, strengthening relationships, and reaffirming the United States’ strong commitment to the region.”
During his visit to the Caribbean, Bohigian met with local business leaders to explore investment opportunities in priority sectors such as energy and infrastructure. He also met with heads of state including Bahamian Prime Minister Hubert Minnis, Jamaican Prime Minister Andrew Holness, Haitian President Jovenel Moise, Dominican President Danilo Medina, and St. Lucian Prime Minister Allen Chastanet.
While in the region, Bohigian also signed a $19.5 million finance agreement to support the expansion of Habitation Jouissant Hotel in Cap Hatien which will bolster economic activity and create jobs in Haiti, and visited critical infrastructure like the Port of Caucedo in the Dominican Republic.
Bohigian led an OPIC delegation to the Caribbean to explore investment opportunities in energy and other critical sectors, and strengthen relationships with countries who are key partners in fostering stability and security in the Western Hemisphere.
OPIC’s current portfolio in the Caribbean includes more than $250 million invested across projects ranging from small business lending, power generation, agriculture, and low-income mortgage lending.
Earlier this spring, President Trump hosted a meeting with Caribbean leaders to discuss trade, energy investment, and security concerns in which he reaffirmed the United States’ commitment to working with its partners in the region to foster economic growth, counter predatory investment practices, and strengthen security cooperation.
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.