| Overseas Private Investment Corporation |
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| 1971 establishments | |
| overseas private investment corporation1971 establishments | |
| overseas private investment corporation | |
| independent agencies of the united states government | |
| united states government corporations | |
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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 political risk insurance against the risks of inconvertibility, political violence, or expropriation. OPIC also provides financing through direct loans and loan guaranties. OPIC operations cost nothing to American taxpayers because it charges market-based fees for its products and services. The agency has earned a profit in each year of operations — $175 million in 2002 — and built its reserves to more than $4 billion. Robert Mosbacher, Jr. is the President and Chief Executive Officer. John Simon is the nominee to Executive Vice President and Chief Operating Officer. The Board of Directors are: Timothy D. Adams Under Secretary for International Affairs U.S. Department of the Treasury Amb. Karan K. Bhatia Deputy U.S. Trade Representative Office of the U.S. Trade Representative Samuel E. Ebbesen President and CEO Virgin Island Telephone Corporation St. Thomas, VI Sanford L. Gottesman President The Gottesman Company Christopher J. Hanley General Secretary-Treasurer International Union of Operating Engineers Washington, DC Collister Johnson, Jr. President - Federal Systems Division AmCad LLC Reston, VA Steven J. Law Deputy Secretary of Labor U.S. Department of Labor Diane M. Ruebling President The Ruebling Group Scottsdale, AZ / Longville, MN Dr. David A. Sampson Deputy Secretary of Commerce U.S. Department of Commerce Frederick W. Schieck Acting Administrator Agency for International Development Ambassador Josette Sheeran Shiner Under Secretary of State for Economic, Business and Agricultural Affairs U.S. Department of State Ned L. Siegel President The Siegel Group Boca Raton, Florida C. William Swank Retired Executive Vice President Ohio Farm Bureau Federation Westerville, OH REFERENCES |
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