Overseas Private Investment Corporation
From Wikipedia, the free encyclopedia
The Overseas Private Investment Corporation (OPIC) is an agency of the U.S. government established in 1971 that helps U.S. businesses invest overseas and promotes economic development in new and emerging markets.
OPIC's mission is to "foster economic development in new and emerging markets, support U.S. foreign policy and create U.S. jobs by helping U.S. businesses to invest overseas." The agency provides political risk insurance against the risks of inconvertibility, political violence, or expropriation. OPIC also provides financing through direct loans and loan guaranties.
OPIC operations cost nothing to American taxpayers because it charges market-based fees for its products and services. The agency has earned a profit in each year of operations — $175 million in 2002 — and built its reserves to more than $4 billion.
[edit] Members
Robert Mosbacher, Jr. is the President and Chief Executive Officer.
John A. Simon is the Executive Vice President and Chief Operating Officer.
The Board of Directors[1] are:
- Under Secretary for International Affairs
- U.S. Department of the Treasury
- Amb. Karan K. Bhatia
- Deputy U.S. Trade Representative
- Office of the U.S. Trade Representative
- Samuel E. Ebbesen
- President and CEO
- Virgin Island Telephone Corporation
- St. Thomas, VI
- President
- The Gottesman Company
- Christopher J. Hanley
- General Secretary-Treasurer
- International Union of Operating Engineers
- Washington, DC
- Collister Johnson, Jr.
- President - Federal Systems Division
- AmCad LLC
- Reston, VA
- Deputy Secretary of Labor
- U.S. Department of Labor
- Diane M. Ruebling
- President
- The Ruebling Group
- Scottsdale, AZ / Longville, MN
- Dr. David A. Sampson
- Deputy Secretary of Commerce
- U.S. Department of Commerce
- Frederick W. Schieck
- Acting Administrator
- Agency for International Development
- Under Secretary of State for Economic, Business and Agricultural Affairs
- U.S. Department of State
- Ned L. Siegel
- President
- The Siegel Group
- Boca Raton, Florida
- C. William Swank
- Retired Executive Vice President
- Ohio Farm Bureau Federation
- Westerville, OH
