The Overseas Private Investment Corporation (OPIC) is the US government’s development finance institution. Established in 1971, OPIC is an independent government agency that mobilizes private capital in emerging and frontier economies to address development challenges and advance US foreign policy objectives. It provides US investors with debt financing, loan guarantees, political risk insurance, and support for private equity investment funds. OPIC operates on a self-sustaining basis and has provided net transfers to the US Treasury for 36 consecutive years. OPIC has helped to mobilize more than $200 billion of US investment in over 4,000 projects.
OPIC plays a key role in the rapidly changing structure of US development policy. It has been tapped as a leading agency in implementing President Obama’s Power Africa Initiative and the Electrify Africa Act, which aim to expand energy access to millions of people. CGD has been active in thinking about how OPIC can most effectively work through these and other avenues to promote economic opportunity and growth.