    [United States Government Manual]
    [June 15, 2003]
    [Pages 495-497]
    [From the U.S. Government Publishing Office, www.gpo.gov]

    OVERSEAS PRIVATE INVESTMENT CORPORATION

    1100 New York Avenue NW., Washington, DC 20527

    Phone, 202-336-8400. Fax, 202-408-9859. Internet, www.opic.gov.
    President and Chief Executive Officer             Peter S. Watson
    Executive Vice President                          Ross J. Connelly
    Vice President, Office of External Affairs        Christopher Coughlin
    Vice President, Office of Investment Policy       Virginia D. Green
    Vice President, Finance Department                Robert B. Drumheller
    Vice President, Insurance Department              Michael T. Lempres
    Vice President, Department of Investment          Daniel A. Nichols
            Development and Economic Growth
    Vice President, Investment Funds                  Cynthia Hostetler
    Vice President and General Counsel                Mark A. Garfinkel
    Vice President and Chief Financial Officer        Gary A. Keel

    [For the Overseas Private Investment Corporation statement of
            organization, see the Code of Federal Regulations, Title 22,
            Chapter VII]

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    The Overseas Private Investment Corporation is a self-sustaining Federal
    agency whose purpose is to promote economic growth in developing
    countries and emerging markets by encouraging U.S. private investment in
    those nations.
    The Overseas Private Investment Corporation (OPIC) was established in
    1971 as an independent agency by the Foreign Affairs Reform and
    Restructuring Act (112 Stat. 2681-790). OPIC helps U.S. businesses
    invest overseas, fosters economic development in new and emerging
    markets, complements the

    [[Page 496]]

    private sector in managing risks associated with foreign direct
    investment, and supports U.S. foreign policy. OPIC charges market-based
    fees for its products, it operates on a self-sustaining basis at no net
    cost to taxpayers.
        OPIC helps U.S. businesses compete in emerging markets when private
    sector support is not availalbe. OPIC offers up to $250 million in long-
    term financing and/or political risk insuranceto U.S. companies
    investing in over 150 emerging markets and developing countries. Backed
    by the full faith and credit of the U.S. Government, OPIC advocates for
    U.S. investment, offers experience in risk management, and draws on an
    outstanding record of success.
        OPIC mobilizes America's private sector to advance U.S. foreign
    policy and development initiatives. Projects supported by OPIC expand
    economic development, which encourages political stability and free
    market reforms. OPIC also supported projects to create American jobs and
    exports--253,000 new U.S. jobs and $64 billion in exports since 1971.
    OPIC promotes U.S. best practices by requiring projects to adhere to
    international standards on the environment, worker rights, and human
    rights.

    Activities

    OPIC insures U.S. investors, contractors, exporters, and financial
    institutions against political violence, expropriation of assets by
    foreign governments, and the inability to convert local currencies into
    U.S. dollars. OPIC can insure up to $250 million per project and has no
    minimum investment size requirements. Insurance is available for
    investments in new ventures, expansions of existing enterprises,
    privatizations, and acquisitions with positive developmental benefits.
        OPIC provides financing through direct loans and loan guaranties for
    medium and long term private investment. Loans range from $100,000 to
    $250 million for projects sponsored by U.S. companies, and financing can
    be provided on a project finance or corporate finance basis. In most
    cases, the U.S. sponsor is expected to contribute at least 25 percent of
    the project equity, have a track record in the industry, and have the
    means to contribute to the financial success of the project.
        To address the lack of sufficient equity investment in emerging
    markets, OPIC has supported the creation of privately owned and managed
    investment funds that make direct equity and equity-related investments
    in new, expanding, or privatizing companies. These funds, which have a
    regional or sectoral focus, provide the long-term growth capital that
    can serve as a catalyst for private sector economic activity in
    developing countries and the creation of new markets and opportunities
    for American companies.
        Helping America's small businesses grow through investments in
    emerging markets is an important OPIC priority. Any small business with
    annual revenues less than $35 million is eligible for small business
    center programs. For businesses with annual revenues over $35 million
    and under $250 million, OPIC's regular small business programs are
    available. OPIC provides direct loans to U.S. small businesses, and
    offers insurance products to meet the special needs of small businesses.
    Other client services include streamlined applications and processing
    procedures, and a small business hotline.

    Sources of
    Information

    General Inquiries  Inquiries should be directed to the Information
    Office, Overseas Private Investment Corporation, 1100 New York Avenue
    NW., Washington, DC 20527. Phone, 202-

    [[Page 497]]

    336-8799. E-mail, OPIC@opic.gov. Internet, www.opic.gov.
    Publications  OPIC programs are further detailed in the Annual Report
    and the Program Summary. These publications are available free of charge
    and on the Web site.

    For further information, contact the Overseas Private Investment
    Corporation, 1100 New York Avenue NW., Washington, DC 20527. Phone, 202-
    336-8400. Fax, 202-408-9859. Internet, www.opic.gov.

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