04/13/2018 | Press release | Distributed by Public on 04/13/2018 11:38
April 13, 2018
LIMA, Peru - Assistant to the President and Advisor Ivanka Trump, Overseas Private Investment Corporation (OPIC) President and CEO Ray W. Washburne, and Acting U.S. Secretary of State John Sullivan today announced OPIC's 2X Americas Latin American women's initiative to mobilize $500 million in private capital to invest in projects that empower women in Latin America. The announcement was made at the CEO Summit of the Americas in Lima, Peru.
'Women's economic empowerment is critical to ensuring global prosperity and stability. The U.S. Government's new '2X Americas' initiative will address the economic barriers that limit women's full participation in the economy and reaffirms our Administration's strong commitment to empowering women in Latin America and around the globe,' said Trump.
'OPIC has a renewed focus on Latin America and seeks to drive economic growth and stability in the region. Investing in women is a key component in advancing our development goals. Like women in so many places around the world, women in Latin America are often challenged to access financial services, facing the largest credit gap globally. Through private investment, 2X Americas will help empower the women of Latin America to prosper,' said Washburne.
'From the U.S. Government's perspective, the case for advancing women's full participation in society is clear; further, advancing women's economic participation globally is absolutely critical to achieving U.S. foreign policy objectives and is directly linked to our national security,' said Sullivan.
In March, OPIC launched its broader 2X Global Women's Initiative, which aims to mobilize $1 billion in capital to invest in the world's women. 2X meets the Administration's goal of promoting women's economic empowerment in the Americas and across the globe through public-private partnership by applying a gender lens to all the projects OPIC considers supporting, to evaluate the best ways these projects can support the needs of women.
OPIC financing to Global Partnerships has supported lending to microfinance institutions that lend to women in Latin America. OPIC also provided financing to build the Mariscal Sucre International Airport in Quito, Ecuador, which committed to provide training and purchase goods and services from local women-owned businesses.
The Overseas Private Investment Corporation (OPIC) is a self-sustaining U.S. Government agency that helps American businesses invest in emerging markets. Established in 1971, OPIC provides businesses with the tools to manage the risks associated with foreign direct investment, fosters economic development in emerging market countries, and advances U.S. foreign policy and national security priorities. OPIC helps American businesses gain footholds in new markets, catalyzes new revenues and contributes to jobs and growth opportunities both at home and abroad. OPIC fulfills its mission by providing businesses with financing, political risk insurance, advocacy and by partnering with private equity investment fund managers.
OPIC services are available to new and expanding businesses planning to invest in more than 160 countries worldwide. Because OPIC charges market-based fees for its products, it operates on a self-sustaining basis at no net cost to taxpayers. All OPIC projects must adhere to best international practices and cannot cause job loss in the United States.