OPIC Acting President & CEO Bohigian Leads Delegation to Jamaica
May 21, 2019
KINGSTON, Jamaica – David Bohigian, Acting President and Chief Executive Officer of the Overseas Private Investment Corporation (OPIC), the U.S. Government’s development finance institution, yesterday visited Jamaica, where he met with Prime Minister Andrew Holness and other senior government officials to discuss opportunities for U.S. investment in infrastructure, energy, water, and women’s empowerment as well as strengthen security cooperation in Jamaica and across the Caribbean.
During his visit, Bohigian met with local business leaders and energy companies to explore opportunities for investment and partnership. He also met representatives of Jamaica Development Bank and the Inter-American Development Bank to discuss opportunities for collaboration on shared development objectives in Jamaica and the greater Caribbean.
“OPIC is proud of its longstanding partnership with Jamaica, and remains committed to the country’s continued economic development,” said Bohigian. “Through enhanced engagement with our neighbors in the Western Hemisphere, we will more effectively support growth and security in the region.”
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. Jamaica is the second stop on a five-country tour of the Caribbean beginning in the Bahamas that will continue to Haiti, the Dominican Republic, and St. Lucia.
OPIC’s current portfolio in the Caribbean totals more than $250 million, including close to $220 million in Jamaica in support of education and power generation projects.
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.