OPIC Acting President & CEO Bohigian Leads Delegation to Haiti
May 21, 2019
PORT AU PRINCE, Haiti – David Bohigian, Acting President and Chief Executive Officer of the Overseas Private Investment Corporation (OPIC), the U.S. Government’s development finance institution, today visited Haiti, where he met with President Jovenel Moise and other senior government officials including Prime Minister Designate Jean Michel Lapin, Foreign Minister Bocchit Edmond, and Minister of Finance Ronald Decembre o discuss opportunities for U.S. investment in infrastructure, energy, water, and women’s empowerment as well as strengthen security cooperation in Haiti and across the Caribbean.
While in Haiti, Bohigian signed a $19.5 million financing agreement to support the expansion of Habitation Jouissant Hotel in Cap Hatien which will bolster economic activity and jobs in the city. He also led roundtables with local business leaders to discuss investment opportunities, highlight how OPIC supports private sector investment in emerging markets, and outline its priorities in the Caribbean including energy as well as agriculture and projects that empower women.
“Haiti represents both a great need for investment and a promising opportunity for investors,” said Bohigian. “By working with our partners in Haiti to drive high-impact solutions to longstanding development challenges, OPIC seeks to foster prosperity, stability, and security in Haiti and beyond.”
Bohigian is leading a high-level 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. Haiti is the third stop on a five-country tour of the Caribbean that has included stops in the Bahamas and Jamaica, and will continue to the Dominican Republic and St. Lucia.
OPIC’s current portfolio in the Caribbean totals more than $250 million, including nearly $35 million in Haiti across a variety of projects in sectors ranging from housing and construction to food production.
At a meeting with Caribbean leaders to discuss trade, energy investment, and security concerns, President Trump in March 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.