OPIC Board of Directors Strengthens Commitment to Lasting African Development
September 19, 2014
(OPIC)
WASHINGTON – The Board of Directors of the Overseas Private Investment
Corporation (OPIC), the U.S. Government’s Development Finance Institution, has
approved support to an investment fund focused on promoting economic growth in
Africa.
OPIC’s board approved a $100 million commitment to Emerging Capital Partners’
(ECP) Africa Fund IV. This fund, selected from OPIC’s second global engagement
call for proposals, is intended to provide expansion capital to high-growth
companies throughout Africa.
Support to private equity is a cornerstone of OPIC’s development strategy, and
the agency is one of the largest private equity fund sponsors in developing
nations. “OPIC is a forward-thinking agency focused on supporting projects in
the developing world and working to ensure that our development impact endures.
At a time when a growing share of our portfolio is focused on Sub-Saharan
Africa, our support to the ECP Africa Fund IV will help foster the expansion of
businesses that are so critical to local job creation and sustained African
economic growth,” said Elizabeth Littlefield, OPIC’s President and CEO.
During the quarterly meeting, OPIC’s board also approved Mildred Callear as
OPIC’s Vice President for Financial and Portfolio Management. Ms. Callear will
oversee efforts to maintain and ensure the progress of OPIC’s active worldwide
portfolio.
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