OPIC Acting President & CEO Bohigian Leads Delegation to St. Lucia
May 23, 2019
CASTRIES, St. Lucia – David Bohigian, Acting President and Chief Executive Officer of the Overseas Private Investment Corporation (OPIC), the U.S. Government’s development finance institution, visited St. Lucia, where he met with Prime Minister Allen Chastanet 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 the region.
During his visit, Bohigian toured Vieux Fort, St. Lucia’s main point of entry, and Cul-de-Sac Bay, home to a crude oil marine terminal operated by Texas-based Buckeye with plans to expand into a container port.
“St. Lucia and its Caribbean neighbors are critical partners in the United States’ mission support a more prosperous, secure Western Hemisphere,” said Bohigian. “OPIC is committed to enhancing its engagement with the Caribbean to catalyze private sector investment, create economic opportunities that empower communities, and foster stability across the region.”
Bohigian is leading 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. St. Lucia is the last stop of a five-country tour of the Caribbean that has included stops in the Bahamas, Jamaica, Haiti, and the Dominican Republic.
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.
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.