OPIC Achieves $3 Billion in Commitments for 2014, Catalyzing Billions More, While Supporting American Business Growth in Developing Countries
December 18, 2014
(OPIC)
Generates $358 million for U.S. Taxpayers,
Marking 37th Consecutive Year of Helping to
Reduce Federal Deficit
New Record Achieved for Renewable Energy
Commitments
WASHINGTON – 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.
Highlights for the year included a new record
of more than $1.2 billion in renewable energy
commitments, supporting both large and
small-scale projects across four continents,
including what will be the largest solar
project in Latin America once complete. This
represents a nearly 10-fold increase in support
to the sector over the last five years and a
resounding confirmation of the economic
opportunities that U.S. companies and investors
are realizing in these fast-growing regions and
sectors.
OPIC-supported projects were diverse in size,
sector, and region. Examples include a small
agricultural expansion project in Senegal,
large partnerships to expand small and medium
enterprise lending in Asian and Middle Eastern
markets, and a major telecommunications
modernization project in Colombia.
OPIC continued its strong financial performance
in fiscal year 2014. Through its financing and
insurance products, OPIC generated $358 million
for the U.S. Treasury and produced its 37th
consecutive year of reducing the Federal budget
deficit. In addition, the Agency’s credit
portfolio once again performed with lower than
1% write-offs (net of recoveries), an
extraordinary accomplishment for a development
finance institution taking risks in some of the
world’s most challenging markets.
Welcome to the Exporting Source
Your one-stop resource for finding help to export to new customers, to learn about government export programs, to join export-promoting trade missions, to sign up for trade conferences and training, and to link to other exporting services. Whether you're an old hand at exporting or just getting started, the Exporting Source provides a place to locate foreign customers, export financing and foreign investment assistance.