Overseas Private Investment Corporation

From Wikipedia, the free encyclopedia

The Overseas Private Investment Corporation (OPIC) is an agency of the United States 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
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

[edit] References

  1. ^ Board of Directors

[edit] External links

Myths and Realities about OPIC from the Heritage Foundation

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