The Overseas Private Investment Corporation (OPIC), the U.S. Government’s Development Finance Institution, today announced $3 billion in financing and insurance commitments made during fiscal year 2014. Consistent with its mission to catalyze private capital flows, OPIC anticipates that these commitments will also mobilize an additional $3.2 billion in private-sector investment into emerging markets.
“OPIC’s trajectory is a testament to the powerful and growing role of the private sector in international development. Because OPIC’s model is fully self-sustaining, the Agency can achieve our development mission at no cost to the taxpayer, while enabling U.S. companies, small and large, to tap into dynamic markets abroad,” said Elizabeth Littlefield, OPIC’s President and CEO.
OPIC’s commitment to economic development and growth has led to a focus on investments in the world’s lowest income countries, especially in Africa, which accounted for over a quarter of the Agency’s overall 2014 commitments. Projects in Africa ranged from support for a healthcare facility in Angola to increased lending access for Zambian small and medium-sized businesses.
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