OPIC Board of Directors Approves Nearly $1.2 Billion in Financing to Support Development Investments Globally
June 9, 2016
(OPIC)
WASHINGTON – The Board of Directors of the Overseas Private Investment
Corporation (OPIC), the U.S. Government’s development finance institution, today
approved support for eight new development projects totaling nearly $1.2 billion
in OPIC financing. These private sector-led development projects will invest in
Sub-Saharan Africa, Ukraine, the Middle East, and South America, in a variety of
sectors to include healthcare, financial services, clean energy and
infrastructure.
“With more than $1.2 billion dollars approved to projects spanning across four
continents, these are great examples of the types of projects and investment
that OPIC can catalyze,” said Elizabeth Littlefield, OPIC President and CEO. “By
providing underserved populations with energy access, health services, and the
financial tools needed to create and expand their businesses, these projects
will make a large impact in much-needed areas around the globe.”
The board of directors’ approvals for OPIC support included:
Up to $250 million in financing for the development of the Izmir Bayrakli
Integrated Health Campus to support the development, construction, and
operation of a health campus with capacity of 2,060 beds in Izmir, Turkey. Up to
$250 million in financing for the development of the Kocaeli Integrated
Health Campus to support the development, construction, and operation of a
health campus with capacity of 1,180 beds in Kocaeli, Turkey. These projects are
part of Turkey’s Healthcare Transformation Program which aims to leverage
private funding for efficient construction and management of new hospital
campuses. They will have a substantial development impact on the well-being of
Turkish residents and the economic development of the country. Turkey has the
lowest number of beds per 10,000 people of any European Union candidate country
with 26 beds per 10,000 people. The Turkey Healthcare Transformation Program
aims to provide 32 beds per 10,000 people by 2023.
Up to $350 million in financing to Acu Petroleo S.A. - T-Oil to
support the development of an oil transshipment terminal located at the Acu Port
in Sao Joao da Barra, a municipality in the Brazilian state of Rio de Janeiro.
Currently, oil from Brazil’s off-shore oil reserves is transferred from
ship-to-ship in open waters or in environmentally sensitive areas. OPIC’s
financing will support the country’s first private transshipment terminal and
result in a more cost effective and environmentally sustainable solution for
Brazil. By providing a contained, protected area for transshipment, the project
reduces the potential and impact of oil spills during transshipment operations.
Up to $53 million in financing and $18.2 million in insurance to
ContourGlobal Cap des Biches Senegal to support the 33 megawatt expansion
and development of the existing 52.9 megawatt combined-cycle thermal power plant
located in Cap des Biches. This OPIC supported project will provide efficient
and reliable electricity to the Senegalese grid by adding a total of 85.9
megawatt generation capacity, approximately 30 percent increase in overall
functioning capacity, contributing greatly to solve the problem of electricity
shortages in Senegal.
Up to $37.5 million in financing to Emerging Europe Growth Fund III
L.P., a private equity fund launched by Horizon Capital Advisors, LLC. This
fund seeks to invest in fast-growing, mid-sized, export-oriented companies in
Ukraine and Moldova with the potential to grow from local to regional market
leaders. Horizon Capital Group is a private equity fund manager that originates
and manages investments in mid-cap companies with offices in Kyiv, Ukraine, and
Chicago, Ill.
Up to $25 million in financing to Dragon Capital New Ukraine Fund
L.P., a private equity fund managed by a subsidiary of Dragon Capital
Holdings Limited. This fund is expected to have a significant developmental
impact in Ukraine by investing in established Ukrainian businesses that are
focused on product expansion, modernization, and growth potential in a wide
range of sectors including agribusiness, healthcare, infrastructure, retail,
consumer goods, and real estate.
Up to $100 million in financing to Sarona Frontier Markets Fund 3,
L.P., a private equity fund-of-funds managed by Sarona Asset Management,
Inc. Sarona Frontier Markets Fund 3, L.P. will invest in private equity funds
that invest growth equity in small to mid-market companies in global frontier
and emerging markets. Sarona Asset Management seeks to implement strong
ethical, social, and environmental policies, and to add significant strategic
and management value to the funds in which Sarona Frontier Markets Fund 3
invests. Sarona Asset Management is headquartered in Ontario, Canada and has
three offices worldwide.
Up to $50 million in financing to Foursan Capital Partners II, a
private equity fund managed by the Foursan Group. This fund will have a positive
developmental impact by supporting investments in Jordan and neighboring markets
as well as providing capital and operational expertise to select markets across
a range of sectors in the Middle East and North Africa.
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