OPIC Signs Agreement With Atradius to Advance Private Investment for Development
February 9, 2016
(OPIC)
WASHINGTON – The Overseas Private Investment Corporation (OPIC), the U.S.
Government’s development finance institution, and Atradius Dutch State Business
(Atradius DSB), the official export credit agency appointed and authorized by
the Netherlands to promote overseas investments by Dutch companies through
insurance programs, have announced an agreement that will enhance the ability of
both institutions to support private investment in developing markets.
In late 2015 in Amsterdam, OPIC Vice President for Political Risk Insurance,
John Moran, met in Amsterdam with Atradius DSB’s Managing Director Bert Bruning
and its Head of International Relations, Vinco David, to sign a memorandum of
understanding (MOU) between the two institutions. This MOU authorizes OPIC and
Atradius DSB to cooperate in ways that will increase each institution’s
respective capacity to insure private investors in the renewable energy,
agribusiness, and water sectors in emerging markets.
This partnership underscores OPIC’s ability to support investment for positive
development impact in support of U.S. foreign policy. Both OPIC and Atradius DSB
will align efforts to coordinate and conduct outreach to investors, lenders,
insurance brokers and other private and public political risk insurers. This
agreement represents a notable step in cooperation between the U.S. and the
Netherlands to advance sustainable development, greater resource efficiency and
a cleaner and more secure low-carbon energy supply.
“There is tremendous synergy between OPIC and Atradius DSB,” said Moran. “OPIC’s
fiscal year 2015 included the fifth consecutive year of $1 billion or more in
support to renewable energy; and, following on the Paris Climate Agreement
signed last December at the COP21 meeting, this sends strong market signals to
businesses and the private sector that the world is moving to a clean energy
economy. There is great potential for cooperation between Atradius and OPIC in
support of these shared goals.”
Bert Bruning, Managing Director of Atradius Dutch State Business, emphasizes the
importance of reaching out to other stakeholders in achieving the climate change
goals. “The agreement with OPIC will help us to substantially strengthen our
contribution towards sustainable economic growth and a better quality of life.
For Atradius DSB, this is the first agreement it has signed with a public
investment insurance agency.”
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