Overseas Private Investment Corporation

Type: Government Agency
On the web: http://www.opic.gov

The Overseas Private Investment Corporation (OPIC) is a self-sustaining US government development agency that helps small, medium, and large American businesses expand into some 150 developing nations and emerging markets around the globe. The agency provides political risk insurance and financing, and leverages private capital through OPIC-supported funds. Its ultimate goals are to help strengthen and expand the US economy so America can effectively compete in world markets and expand the economies of developing nations so they can become strong markets for US products and services. Established in 1971, OPIC charges user fees for its services, operating at no net cost to American taxpayers.

Officers:
Acting President and Acting VP External Affairs: Lawrence Spinelli
Acting Chief of Staff: John Moran
Acting CFO: Rosemary Allen

Federal program to insure private U.S. Investments in foreign countries, created by the Foreign Assistance Act of 1961. It is a joint government and private effort to encourage U.S. Investments abroad by providing protection against three political risks: (1) inability to convert foreign currency; (2) expropriation of facilities by a foreign country; and (3) war or revolution. The program is guaranteed by the full faith and credit of the U.S. Government.

Independent federal agency created by the Foreign Assistance Act of 1969 to insure, guarantee, and finance private investments in developing countries. Since 1979 OPIC has operated as a unit of the International Development Cooperation Agency.