The Overseas Private Investment Corporation (OPIC) is the U.S. Government’s development finance institution. It mobilizes private capital to help solve critical development challenges and in doing so, advances U.S. foreign policy. Because OPIC works with the private sector, it helps U.S. businesses gain footholds in emerging markets, catalyzing revenues, jobs and growth opportunities both at home and abroad. OPIC achieves its mission by providing investors with financing, guarantees, political risk insurance, and support for private equity investment funds.
Power Africa Initiative is a U.S. Government program that addresses one of the most pressing challenges to sustainable economic growth and development in Sub-Saharan Africa: access to electrical power. President Obama announced the initiative in remarks at the University of Cape Town, South Africa, on June 30th, 2013. More than 69 percent of the population of Sub-Saharan Africa has no access to electricity – and that number rises to more than 85 percent in rural areas. And yet, the region has significant potential to develop clean, geothermal, hydro, wind and solar energy.