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	Overseas Private Investment Corporation - 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 financing through direct loans and loan guaranties.
		Ross J. Connelly is the Executive Vice President and Chief Operating Officer of OPIC.
	en.wikipedia.org /wiki/OPIC (160 words)

	SEEN
		Since OPIC is increasingly focusing its efforts on the electric power and fossil fuel sectors, it is imperative that the organization include rigorous and detailed proposals for such evaluation of the entire sector, specifically with regard to the overall climate change impacts of OPIC activities.
		OPIC environmental guidelines should attempt to account for the indirect and qualitative effects of projects on the energy sectors of developing countries, recognizing that large power plant and fossil fuel development projects often divert disproportionate amounts of development capital, thereby often functionally locking-in developing energy sectors into certain structural patterns and fuel mix requirements.
		All OPIC projects should include a cumulative and an annual emission estimate which should be evaluated in relation to annual greenhouse gas emissions in the latest reference year, and in relation to anticipated global emissions, and their relative global environmental impact determined accordingly.
	www.seen.org /pages/reports/opic.shtml (2513 words)

	OPIC's Internship Program
		OPIC sponsors volunteer internships during the Fall and Spring semesters, which may be performed for academic credit.
		Applicants must apply using OPIC's secure on-line Internship Application, which must be completed in one user session (i.e., you may not store a partially completed application on-line and start another user session to complete or edit it prior to final submission).
		Applicants must apply using OPIC's secure on-line OPIC Legal Affairs Internship Application, which must be completed in one user session (i.e., you may not store a partially completed application on-line and start another user session to complete or edit it prior to final submission).
	www.opic.gov /hrm/Internships.htm (977 words)

	RIGZONE - Unocal Secures OPIC Funds
		OPIC will be providing support of up to $350 million in OPIC financing for two offshore oil and natural gas projects in Indonesia.
		OPIC is pleased to support both a U.S. business and Indonesia's efforts to become oil independent." The projects will generate approximately $200 million in procurement in Indonesia, as well as roughly $66 million in procurement in the United States.
		OPIC is currently providing $244 million in political risk insurance and $216 million in financing to projects in Indonesia.
	www.rigzone.com /news/article.asp?a_id=2558 (325 words)

	Committee on International Relations, U.S. House of Representatives
		Yet, OPIC’s mission, “to mobilize and facilitate the participation of United States private capital and skills in the economic and social development of less developed countries…” remains as relevant today as it was at OPIC’s creation.
		OPIC therefore needed to work in tandem with private business to leverage private sources of financing and insurance to the maximum extent possible, while functioning as a “market of last resort” for projects that private investors and insurers would not or could not support on their own - a policy of complementarity, if you will.
		OPIC is also a partner in the Nacala Port and Railway Network Initiative, which is developing the railway corridor through Malawi and Mozambique and refurbishing the port at Nacala.
	wwwc.house.gov /International_relations/108/wat0610.htm (4113 words)

	Business America: OPIC supports U.S. investors in LDCs and emerging democracies - Overseas Private Investment ... (Site not responding. Last check: 2007-10-22)
		OPIC is a self-sustaining U.S. government agency that facilitates U.S. private investments in less developed countries and emerging economies.
		OPIC assures that the local currency can be converted into U.S. dollars under the regulations and practices in effect in the host country at the time the insurance is issued.
		OPIC protects debt and equity investments against actions by a host government, such as nationalization and confiscation, which deprive the investors of their fundamental rights to the investment.
	www.findarticles.com /p/articles/mi_m1052/is_n20_v112/ai_11525857 (1311 words)

	OPIC-ing The Taxpayers Pocket
		OPIC is another form of corporate welfare and accomplishes nothing that cannot be performed better in the private sector, without risk to U.S. taxpayers.
		OPIC policies extend for 20 years, while the private sector in most instances cannot issue policies for longer than three or seven years for reasons of risk.
		OPIC continues to compete unfairly with the private sector, despite the fact that its authorizing language instructs it specifically to promote the development of private-sector political risk insurers.
	www.heritage.org /Research/Taxes/EM458.cfm (1268 words)

	Testimony -- Watson
		OPIC is an integral part of the foreign assistance program of the United States, born out of the Marshall Plan, and focused on the belief that concessional aid alone cannot bring about the economic development so sorely needed in much of the world.
		OPIC's principal mission is "to mobilize and facilitate the participation of United States private capital and skills in the economic and social development of less developed countries and areas, and countries in transition from nonmarket to market economies, thereby complementing the development assistance objectives of the United States."
		OPIC is pleased to work with a respected organization such as CHF to enable Mexico to improve its housing stock, to the economic benefit of both our countries.
	www.senate.gov /comm/banking_housing_and_urban_affairs/general/01_10hrg/100201/watson.htm (2975 words)

	OPIC ASSISTS U.S. INVESTORS IN THE NIS
		OPIC political risk insurance is available to U.S. investors, contractors, exporters, and financial institutions involved in international transactions.
		OPIC provides financing for investments that are wholly owned by U.S. companies or that are joint ventures in which the U.S. sponsor firm is a participant.
		OPIC normally requires that the principal sponsors enter into a completion agreement under which they are obligated to guarantee payment of debt service to OPIC as well as to cover cost overruns prior to project completion (which is defined to include certain financial and operating tests, as well as physical and legal completion).
	www.bisnis.doc.gov /bisnis/bulletin/0008bull2.htm (891 words)

	Russia, Eurasia, Overseas Private Investment Corporation, Inviting Proposals - JRL 8-24-05
		OPIC will consider providing up to $100 million in debt financing to one or more funds to facilitate the investment of risk capital in private companies in the region.
		OPIC will also consider proposals from fund managers with a Russia-focused strategy in which OPIC financing would be provided to a special-purpose vehicle for those investments made in the other eligible Eurasian countries.
		OPIC will contribute up to $100 million in financing, or no more than 33 percent of the total capital of the funds, with the balance to be raised by the fund managers.
	www.cdi.org /russia/johnson/9231-34.cfm (669 words)

	Renewing OPIC and Reviewing Its Role in Support of Key U.S. Objectives (Site not responding. Last check: 2007-10-22)
		OPIC therefore needed to work in tandem with private business to leverage private sources of financing and insurance to the maximum extent possible, while functioning as a ''market of last resort'' for projects that private investors and insurers would not or could not support on their own—a policy of complementarity, if you will.
		A predicate of course to OPIC being able to operate in any country is some type of authorization, generally with a preexisting government but in some instances, as in one of the eastern European situations we were able to operate on the basis of an agreement with the interim authority there.
		Seagall, Ned Seagall was one of the presidential appointees was sworn in.
	commdocs.house.gov /committees/intlrel/hfa87675.000/hfa87675_0.htm (16823 words)

	OPIC Pledges Additional $50 Million for U.S. Investment in Afghanistan, March 4, 2003
		In the second project, OPIC is providing political risk insurance to enable a U.S. manufacturer to donate a compressed earth block machine for the construction of three schools, at least one of which will be for girls.
		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.
		Additionally, OPIC announced that it would provide political risk insurance to enable a U.S. manufacturer to donate a compressed earth block machine for the construction of three schools in Afghanistan, at least one of them for girls.
	www.usembassy.it /file2003_03/alia/a3030716.htm (748 words)

	OPIC To Provide Financing on Indonesian Oil, Gas Venture
		According to the release, OPIC's financing nearly single-handedly fulfills a 2001 joint initiative of OPIC, the U.S. Export-Import Bank, and the U.S. Trade and Development Agency to provide $400 million in loans and guarantees to finance U.S. investments in Indonesia.
		OPIC is a self-sustaining federal agency that provides investment services such as political risk insurance, project finance and investment funds.
		OPIC's goal is to create a level playing field for U.S. businesses and to support development in emerging economies.
	www.usembassyjakarta.org /opic_1.html (643 words)

	Save Jobs - Abolish OPIC
		OPIC is the little known government agency Overseas Private Industry Corporation.
		Financing can be through direct loans or loans from investment banks which OPIC says are guaranteed by the full faith and credit of the United States (which means the U.S. taxpayers).
		OPIC claims it only provides support in cases where the private sector cannot, or will not.
	www.rense.com /general50/opic.htm (438 words)

	Citigroup and OPIC provide $131 million facility to Iraqi Corporations
		Ross J. Connelly, Acting President of OPIC, said: “This facility is critical as a first step towards rejuvenating the private sector of Iraq as it struggles to tap the capital markets.
		OPIC was established as an agency of the U.S. government in 1971.
		Over the agency’s 32-year history, OPIC has supported $164 billion worth of investments that have helped developing countries to generate more than 732,000 host-country jobs and $13 billion in host-government revenues.
	www.citigroup.com /citigroup/press/2005/050303b.htm (527 words)

	Montpelier Re, OPIC Offer Terrorism Cover Abroad
		OPIC is a U.S. government agency that promotes U.S. private investment in developing countries and transition economies.
		OPIC's terrorism insurance will cover violent acts with the primary intent of achieving a political objective, undertaken by individuals or groups that do not constitute a national or international armed force.
		OPIC will offer protection of up to 10 years and in countries for which private sector insurance is not readily available.
	www.insurancejournal.com /news/international/2004/10/12/46824.htm (459 words)

	The Overseas Private Investment Corporation: Myth and Realities
		OPIC was envisioned as a more market-oriented alternative to traditional foreign aid programs, which transfer income to foreign governments in unsuccessful attempts to spur development.
		OPIC is not active in a large portion of Asia, including the Democratic Republic of Korea (North Korea), Myanmar, the PRC, Pakistan, the Republic of Korea, Taiwan, or Vietnam; 70 percent of its portfolio is in Latin America and the former Soviet Union and its allies—regions in which Japanese investors have shown much less interest.
		If OPIC is supposed to combat the subsidies of foreign countries, it logically should focus on countries in which competition for foreign direct investment and export opportunities is the fiercest.
	www.heritage.org /Research/PoliticalPhilosophy/BG1127.cfm (3989 words)

	OPIC Approves $54 Million for Silver Mine in Bolivia - US Department of State
		OPIC was established as an agency of the U.S. government in 1971. It helps U.S. businesses invest overseas, fosters economic development in new and emerging markets, complements the private sector in managing risks associated with foreign direct investment, and supports U.S. foreign policy.
		OPIC will provide the insurance to Coeur d'Alene Mines Corporation of Idaho, the largest primary silver producer in North America, for the construction and operation of the San Bartolome mine, a modern silver mining operation near the historic mining city of Potosí in Bolivia.
		OPIC is co-insuring the project with Zurich, which is providing more than $77 million in political risk insurance.
	usinfo.state.gov /wh/Archive/2005/Jan/24-562861.html (721 words)

	OPIC may not approve financing for textile -DAWN - Business; September 23, 2003
		Top bankers well-versed with OPIC financing said the textile sector would not be able to get project financing under this facility primarily because OPIC would not approve of it.
		It is not a stated policy of OPIC to disallow financing under the facilities backed by it to those sectors of other economies that compete with the US.
		Citibank and OPIC had entered into this agreement a couple of months ago and last week the two sides effectively activated it.
	www.dawn.com /2003/09/23/ebr1.htm (787 words)

	OPIC, UNMIK Reach Agreement on U.S. Investment in Kosovo, June 12, 2002 (Site not responding. Last check: 2007-10-22)
		OPIC President and CEO Dr. Peter Watson urged U.S. companies to take advantage of the development to invest in the region as it recovers from civil war.
		Watson noted that OPIC concluded a new bilateral agreement between the United States and Yugoslavia last July, among other benefits enabling the OPIC-supported $150 million Southeast Europe Equity Fund, managed by Soros Private Funds Management, to invest in Yugoslavia, as it may in eight other countries of southeastern Europe.
		OPIC was established as an independent agency of the U.S. government in 1971.
	www.usembassy.it /file2002_06/alia/a2061304.htm (474 words)

	Business America: OPIC helps America's small businesses get big results - Overseas Private Investment Corporation (Site not responding. Last check: 2007-10-22)
		When OPIC insures or finances a large project, it is often smaller companies that provide many of the goods and services that get the project up and running.
		OPIC worked closely with Purolite for some six months to complete financing arrangements for the project, which involved co-financing with the European Bank for Reconstruction and Development.
		OPIC's support to the Allied Capital International Small Business Fund is another innovative way that OPIC helps U.S. small businesses meet with success overseas.
	www.findarticles.com /p/articles/mi_m1052/is_n10_v118/ai_19848331 (1409 words)

	Department of State Washington File: Text: OPIC Nov. 30 News Release on Vietnam Investment Project
		OPIC is committing $2.3 million in financing for Caterpillar Inc.'s authorized dealership in Vietnam, V-TRAC, which provides equipment for infrastructure projects such as roads, railways, seaports, and airports.
		OPIC is a self-sustaining federal agency that sells investment services to small, medium and large American businesses.
		OPIC is a self-sustaining federal agency that sells investment services to small, medium and large American businesses expanding into some 140 developing nations and emerging markets around the world.
	usembassy-australia.state.gov /hyper/WF991201/epf302.htm (637 words)

	Text: OPIC Announces New Deal At Cairo Economic Summit (Site not responding. Last check: 2007-10-22)
		This project in Oman, OPIC's largest venture in the country, is among four new ventures OPIC is backing in the Middle East-North Africa region, according to a press release issued November 13 in Cairo.
		OPIC has committed to provide up to $200 million in political risk insurance to New York's Chase Manhattan Bank for loans to the project.
		OPIC earns a profit of about $200 million a year from the sale of its services and now has reserves totaling more than $2.7 billion.
	www.usembassy-israel.org.il /publish/press/summit/es31114.htm (602 words)

	End OPIC Investing
		Corporate beneficiaries of OPIC largesse are lobbying vigorously to save their cash cow from destruction.
		OPIC provides political risk insurance and financing for private investments in risky markets.
		Should the $19.8 billion OPIC scheme prove to be as shaky as federal deposit insurance, it will need a costly bailout.
	www.cei.org /gencon/005,01252.cfm (627 words)

	OPIC's Deep Pockets (Site not responding. Last check: 2007-10-22)
		OPIC has earned a profit in every year of its existence, according to its 1996 annual report.
		In fact, its 1996 annual report listed OPIC as having provided $18.7 billion in financing and insurance to U.S. firms investing in 44 nations overseas, enabling it to earn a profit of nearly $209 million.
		The largest OPIC beneficiary was Citibank of New York, which received $819.8 million in financing and insurance from the federal agency in 1996.
	www.stoptheftaa.org /artman/publish/article_45.shtml (242 words)

	Agency and OPIC (Site not responding. Last check: 2007-10-22)
		The protocol agreement commits IACD to work with OPIC to encourage "private sector investment and participation in social and economic development projects in Latin America and the Caribbean," by enabling IACD to provide financial advice, business planning, project design and monitoring for projects the agency and OPIC develop jointly.
		OPIC can provide up to $200 million in financing and $200 million in political risk insurance per project.
		OPIC is a self-sustaining federal agency that sells investment products to small, medium and large American businesses expanding into some 140 developing nations and emerging markets around the world.
	www.oas.org /OASpage/press2002/en/press2001/010901.htm (422 words)

	USIS Washington File: TEXT: OPIC 3/19 PRESS RELEASE ON NEW AGREEMENT WITH VIETNAM
		OPIC's programs were available in Vietnam until the military defeat of the Republic of Vietnam in 1975.
		Following that event, OPIC paid five expropriation claims to American investors whose investments were expropriated by the Vietnamese government.
		OPIC is a self-sustaining federal agency that operates at no net cost to the taxpayer.
	usembassy-australia.state.gov /hyper/WF980320/epf502.htm (905 words)

	CalTrade Report - OPIC to Offer Terrorism Insurance (Site not responding. Last check: 2007-10-22)
		OPIC will offer tenors of up to 10 years and will cover countries for which private sector insurance is not readily available.
		OPIC's new product "will do the same for insurance of American projects abroad, which TRIA does not cover," he said, adding that "OPIC will also work with the private sector by reinsuring sabotage and terrorism coverages for US corporations and US lenders and by filling the gaps in coverage currently available."
		Established in 1971, OPIC was created to US-based companies invest overseas, fosters economic development in new and emerging markets, and complements the private sector in managing risks associated with foreign direct investment.
	www.caltradereport.com /eWebPages/front-page-1060910056.html (333 words)

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