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Reforming OPIC for the 21st Century

Author

Listed:
  • C. Fred Bergsten
  • Theodore H. Moran

    (Peterson Institute for International Economics)

Abstract

The mission of the Overseas Private Investment Corporation (OPIC)--created in 1969 through an amendment to the Foreign Assistance Act--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 pursues this mission by insuring US investors against political risks that include expropriation, currency inconvertibility, and political violence; by financing US investors overseas through loans and loan guarantees; and by providing credits to private investment funds that make equity investments in businesses in underdeveloped countries and regions.

Suggested Citation

  • C. Fred Bergsten & Theodore H. Moran, 2003. "Reforming OPIC for the 21st Century," Policy Briefs PB03-05, Peterson Institute for International Economics.
    • Handle: RePEc:iie:pbrief:pb03-5
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    File URL: https://www.piie.com/publications/policy-briefs/reforming-overseas-private-investment-corporation-21st-century
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    Cited by:

    1. Theodore H. Moran, 2015. "The Role of Industrial Policy as a Development Tool: New Evidence from the Globalization of Trade-and-Investment," Policy Papers 71, Center for Global Development.

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