Foreign Investment Insurance

 

To insure investments of eligible U.S. investors in developing countries and emerging markets, against the political risks of inconvertibility, expropriation, and political violence. Special programs include insuring (l)contractors and exporters against arbitrary drawings of letters of credit posted as bid, performance or advance payment guaranties, (2)petroleum exploration, development and production (3)leasing operations, and (4) debt financials, including securities.

Deleted 03/27/2024 (Archived.) 70.003 Overseas Private Investment Corporation G - Insurance Fiscal Year 2007 Since 1971, OPIC, a self-sustaining agency, has supported more than $164 billion in U.S. investment overseas that will generate $69 billion in U.S. exports and support more than 264,000 American jobs. Additionally, OPIC has benefited the more than 150 countries in which it has operated or is currently operating, supporting sustainable development and international trade while solidifying free markets. Foreign Assistance Act of 1969, Title IV, Section 234(a), Public Law 91-175, 22 U.S.C. 2191, et seq. Citizen of the United States; a corporation, partnership, or other association created under the laws of the United States or any State or territory, of which more than 50 percent is beneficially owned by U.S. citizens; a foreign corporation at least 95 percent owned by such entities; or any other 100 percent U.S.-owned foreign entity. OPIC does not support projects that will result in the loss of U.S. jobs, that have a negative impact on the host country's economy or environment, or contribute to violations of internationally recognized worker rights. OPIC only supports projects that contribute to the economic and social development of the host country. A bilateral agreement between the United States and the host country government must be in place before OPIC can provide insurance for a given country. Additionally, special project approval by the foreign government is required in some countries before insurance can be provided. Preapplication coordination is required. Environmental impact information is not required for this program. An environmental impact assessment is not required for this listing. This program is excluded from coverage under E.O. 12372. 2 CFR 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards applies to this program. The insurance program has a two-step application process. Investors must first register their projects with OPIC before making an irrevocable commitment to invest. Once the details of the investment have been established, an application for insurance coverage is filed. OPIC charges a retainer fee after the submission of an application for insurance in order to proceed with review of the project. Registration and application forms are available on request from the Insurance Applications Officer, Overseas Private Investment Corporation, 1100 New York Avenue, NW., Washington, DC 20527, or on OPIC's website: www.opic.gov. Insurance is issued directly to the applicant by OPIC, or through a broker if the investor so chooses. Registration must be made prior to making an irrevocable commitment to invest. The registration remains active at OPIC for 2 years. Not applicable. Not applicable. Not applicable. Not applicable. To encourage private U.S. investment in developing countries and emerging economies by protecting against certain political risks. Investments may be eligible for insurance if they benefit the social and economic development of the host country. OPIC will not support projects that could result in the loss of U.S. jobs, adversely affect the U.S. economy, have a negative impact on the host country's development or environment, or contribute to violations of internationally recognized worker rights. Not applicable. Not applicable. When claim for compensation is pending and after such payment is made, the investor has a duty to cooperate with OPIC in supplying all information requested pertaining to the claim. These responsibilities are clearly spelled out in each insurance contract. Statutory formula is not applicable to this assistance listing.

Matching requirements are not applicable to this assistance listing.

MOE requirements are not applicable to this assistance listing. Maximum insurance term is 20 years for equity investment; for loans, the term of the loan; for contracts, the term of the contract. Method of awarding/releasing assistance: . None/Not specified. Information Officer Overseas Private Investment Corporation 1100 New York Ave., NW. Washington, DC 20527. Telephone: (202) 336-8799. For program information by electronic mail: info@opic.gov . http://www.opic.gov . 71-4184-0-3-151 (Not Applicable) FY 07$1,200,000,000.00; FY 08 Estimate Not Available FY 09 Estimate Not Available - (Insurance Issued) (Aggregate Maximum Insured Amount) FY 07 $1,200,000,000; FY 08 est not available; and FY 09 est not reported. Not applicable/available. "OPIC Program Handbook," free. Not applicable.