ArmInfo. The American private foreign investment corporation OPIC (Overseas Private Investment Corporation) is considering the possibilities of expanding investment programs in Armenia. To this end, today in Yerevan, with the assistance of the American Chamber of Commerce in Armenia (AmCham), a discussion took place during which representatives of OPIC presented the format of the work of the American corporation, requirements and standards.
"OPIC is a very large structure that promotes the development of business programs in various fields and around the world. It is very important for us that many programs are implemented in Armenia, especially given that now we intend to further promote the business environment, in particular from the point of view of increasing financial accessibility for the private sector," said Ara Hovsepyan, chairman of AmCham. However, according to him, to start cooperation with OPIC Armenian business must meet the standards set by the corporation. A.Ovsepyan said that OPIC representatives are in Armenia for a week, and after today's discussions, the main areas that the corporation intends to finance will be outlined.
To date OPIC's loan portfolio in Armenia is about $ 100 million. The first program was completed in 2001, when OPIC granted AK Development credit for $ 18 million.
Overseas Private Investment Corporation (OPIC) was established as an independent body within the US government in 1971. The purpose of the corporation is to promote US business in investing in new and emerging markets through the provision of loans and guarantees. OPIC operates in 140 countries around the world.