OPIC's Development Mission OPIC's core mission is to support economic development by promoting U.S. private investment in developing countries and transition economies. In support of that mission, OPIC evaluates all projects it may support for their contribution to development in 25 areas, and measures the organization's performance on the basis of the contribution of projects OPIC supports to development. OPIC's methodology for carrying out that assessment is outlined in the 2003 Development Summary. OPIC's policy with respect to its development mission is described in detail in the Mission Statement by OPIC's President and CEO. OPIC’s mission statement continues concisely to articulate the purposes that Congress had in mind when OPIC was established in 1971, as well as subsequent expansions of its mission through amendments to OPIC’s authorizing legislation:
Since 2001, OPIC has refocused its energy, talent, and resources on its principal mission. As OPIC President and CEO Peter Watson stated when initiating this refocusing effort, the “key priority in refocusing OPIC is to enhance the agency’s consciousness of its developmental mission” and to strengthen OPIC’s “developmental mandate by examining critically each proposed investment in terms of its developmental impact.” OPIC will, Dr. Watson noted, refocus its “outreach toward underserved regions like sub-Saharan Africa, as well as countries and sectors where the developmental benefits are likely to be greatest.” Since 1971, OPIC has accomplished its developmental mission by supporting more than 3,100 projects throughout the developing world. Over the agency’s 32-year history, OPIC has supported nearly $145 billion worth of investments that have helped developing countries to generate over $11 billion in host-government revenues and create over 680,000 host-country jobs. |
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