January 24, 2018
Today, Ray W. Washburne, President and Chief Executive Officer of the Overseas Private Investment Corporation (OPIC) – the U.S.’s development finance institution – issued the following statement following his meeting with Guatemalan President Jimmy Morales:
OPIC’s investments in Guatemala increase prosperity and economic opportunity for the Guatemalan people by improving infrastructure, spurring economic growth, creating jobs, and supporting small local businesses. Guatemala presents attractive opportunities for greater US investment; however, continued commitment to increasing transparency and combatting corruption and impunity are needed to create the necessary environment to facilitate investment. We look forward to working with President Morales and the government of Guatemala to pave the way for future U.S. investments that will benefit the economies of both our nations.
The Overseas Private Investment Corporation (OPIC) is a self-sustaining U.S. Government agency that helps American businesses invest in emerging markets. Established in 1971, OPIC provides businesses with the tools to manage the risks associated with foreign direct investment, fosters economic development in emerging market countries, and advances U.S. foreign policy and national security priorities. OPIC helps American businesses gain footholds in new markets, catalyzes new revenues and contributes to jobs and growth opportunities both at home and abroad. OPIC fulfills its mission by providing businesses with financing, political risk insurance, advocacy and by partnering with private equity fund managers.
OPIC services are available to new and expanding businesses planning to invest in more than 160 countries worldwide. Because OPIC charges market-based fees for its products, it operates on a self-sustaining basis at no net cost to taxpayers. All OPIC projects must adhere to best international practices and cannot cause job loss in the United States.