[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-

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336-8799. E-mail, [email protected]. 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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