OPIC President and CEO Statement on Trump Administration’s Women's Global Development and Prosperity Initiative
February 7, 2019
Washburne: “Investing in women is a way to expand our impact and bring positive change to the developing world.”
WASHINGTON – Ray W. Washburne, President and Chief Executive Officer of the Overseas Private Investment Corporation (OPIC), the U.S. Government’s development finance institution, issued the following statement after the Trump Administration launched the Women’s Global Development and Prosperity (W-GDP) Initiative:
Through our 2X Women’s Initiative, OPIC will play a critical role in advancing the Administration’s efforts to empower women globally and help them reach their full economic potential. Across the world, women face barriers to full economic participation including access to credit to grow their businesses. OPIC has stepped in with its 2X Women’s Initiative to invest more than $1 billion to support women’s economic empowerment in the developing world. We know that when women can expand their economic opportunity, they invest that money back in their families and communities. Investing in women is a way to extend our impact and bring positive change to the developing world.
OPIC is committed to gender lens investing to support women in the developing world and to unlock the multitrillion dollar investment opportunity they represent. Through 2X, OPIC is directly investing $350 million and has already mobilized over $1 billion in capital supporting women-owned, women-led enterprises and companies that provide a product or service that intentionally empowers women.
Read more about the Women’s Global Development and Prosperity (W-GDP) Initiative.
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.