OPIC Highlights is published by Overseas Private Investment Corporation 1100 New York Avenue, N.W.  Washington, D.C. 20527

OPIC Highlights

Office of External Affairs 

1100 New York Avenue, NW

Washington, DC 20527 

202-336-8400 

www.opic.gov 

OVERSEAS PRIVATE INVESTMENT CORPORATION 

Fighting corruption and ensuring transparency are deeply tied to OPIC's developmental mission. In order

to better meet this goal, OPIC implemented a new Anti­Corruption and Transparency Initiative in 2006.

OPIC and Transparency 

OPIC Anti­Corruption and Transparency Initiative

The OPIC Anti­Corruption and Transparency Initiative builds on efforts by the agency to enhance the clarity of OPIC's 

activities and its commitment to creating a level playing field for lawful business activities. By demonstrating that profitable international investment is compatible with evolving best practices for corporate social responsibility, the initiative 

also supports OPIC's developmental mandate, resulting in improved delivery of project benefits.

The initiative is the culmination of OPIC consultations with interested stakeholders, including members of Congress and 

the nongovernmental community. Key Elements of the Initiative:

Anti­Corruption:

OPIC has formally endorsed the principles of the

Extractive Industries Transparency Initiative (EITI) and 

posted its endorsement on its web site. OPIC will encour­ age its sponsors to voluntarily agree to the EITI guidelines 

in OPIC sponsored projects.

EITI supports improved governance in resource rich devel­ 

oping countries through the full publication and verification 

of company payments and government revenues from oil, gas and mining ventures. The goal is to ensure that the revenues from extractive industries in developing countries 

contribute to sustainable development and poverty reduction. Participation in EITI can reduce the risk associated 

with a project, and improve the likelihood of success in the 

most developmental markets while reducing associated 

costs. OPIC has created and posted an OPIC Anti­Corruption

Handbook that provides OPIC sponsors and other interest­ 

ed parties with a comprehensive approach to fight corruption. OPIC sponsors are required to certify that they have

received, read and distributed the Handbook.

OPIC has established a dedicated telephone Hotline at 202­

312­2153, which is available to obtain compliance guidance

and for the reporting of allegations of corruption and fraud 

in connection with OPIC supported projects. Building on its existing best practices, OPIC is enhancing 

its due diligence procedures, to continue to ensure effective

compliance programs exist in projects that the agency sponsors. OPIC reserves the right to decline prospectively doing 

business with any person or entity convicted of an FCPA 

violation.

Improved Information Disclosure:

OPIC has redesigned its web site to better organize a greater

amount of information made available to the public. 

OPIC will post on its web site non­business confidential sum­ maries of OPIC supported projects. Projects approved by the 

Board of Directors will be posted immediately. Other project 

summaries will follow as templates and processes are established internally. OPIC will require and post on its web site, non­business confi­ dential versions of additional documentation required for

Category A projects ­ the most environmentally sensitive proj­ 

ects that OPIC supports. These include Environmental Impact 

Assessments (EIA), Environmental Management and 

Monitoring Plans (EMMP) and Environmental Remediation 

Plans.

OPIC will disclose and post on its web site the auditor certifi­ cations for Category A projects.

OPIC will post on its web site its internal filing standards,

established by the National Archives and Records 

Administration (NARA) to provide greater transparency into 

agency information and documentation storage. OPIC will post on its web site public notices, including Board 

meetings, public hearings, Sunshine Act notices as well as 

Board meeting agendas, the public minutes of the Board meeting and Board resolutions.

OPIC will post on its website the standard environmental and 

social covenants used in Category A projects, as well as host

country notifications for Category A projects, which are trans­ 

mitted by OPIC to host governments when contracts are exe­ cuted.
OPIC is a U.S. government agency that helps U.S. businesses invest overseas, fosters economic development in new and emerging markets, complements the private sector in managing risks associated with foreign direct investment, and supports U.S. foreign policy. Because OPIC charges market-based fees for its products, it operates on a self-sustaining basis at no net cost to 

taxpayers. Since 1971, OPIC has supported more than $164 billion worth of investments that have generated over $69 billion in 

U.S. exports and supported more than 264,000 American jobs. For more information please go to www.opic.gov.

February 2007 

Improved Coordination

with Locally Affected

Communities:

For Category A projects with "signifi­ 

cant social impacts", OPIC will require

that project sponsors formally consult 

with the locally affected communities,

by providing project information in a

language, format and medium that is

accessible.

For Category A projects, OPIC will 

require project sponsors to provide a

local language translation of the

Executive Summary of the project's 

Environmental Impact Assessment 

(EIA), making the summary available to 

local stakeholders.

For Category A projects, OPIC will 

require project sponsors to communicate 

contract conditions on workers rights to 

host country project employees, where

appropriate.

Improved Information

Collection:

OPIC will update its application and 

reporting forms with input from all

stakeholders on the content of data 

required.

Office of Accountability

OPIC has established an Office of Accountability to assess and review com­ 

plaints about OPIC­supported projects. The Office of Accountability gives 

local communities, which may be materially, directly and adversely affected by 

an OPIC­supported project, and project sponsors a means of raising com­ 

plaints, independently from OPIC operations. Its mandate, established by 

OPIC's Board of Directors in response to guidance from the U.S. Congress, is

to deliver problem­solving and compliance review services in a manner that is 

fair, objective and transparent, thereby enhancing OPIC's mission effective­ ness. The office has two primary functions:

Problem­solving:

Review and attempt to resolve outstanding complaints of local communities,

with or without allegations of non­compliance by OPIC. A problem­solving 

initiative may include independent fact­finding, dialogue facilitation or mediation.

Compliance review:

Assess and report on complaints regarding OPIC’s compliance with its policies 

related to environment, social impacts, worker rights and human rights under

an OPIC­supported project 

The Office of Accountability is an independent office within OPIC's organizational structure. The Director, Office of Accountability, reports to OPIC’s 

President & CEO. The Director coordinates all Office of Accountability 

processes and makes an initial assessment of complaints. If a problem­solving 

initiative is advisable, the Director or an independent facilitator will oversee

the process. If a compliance review is warranted, the Director or an independent expert will conduct it.

To learn more about OPIC’s Office of Accountability visit the web site at:

www.opic.gov/doingbusiness/accountability/index.asp 

Support for the Rule of Law

Transparency International­USA (TI­USA), part of the global civil society organi­ 

zation leading the worldwide fight against corruption, welcomed OPIC's Anti­ Corruption & Transparency Initiative as an important element of the

Administration's anticorruption agenda. "OPIC's initiative recognizes the critical 

role of the private sector in reducing corruption and its provisions promise to 

enhance standards of international business conduct," said TI­USA Chairman Alan 

Larson. "By taking these steps, OPIC will send a clear signal that bribery will not 

be tolerated in its projects."  OPIC President and CEO Robert Mosbacher, Jr., 

left, is joined by Julian Braithwaite, Counsellor

for Global Issues at the Embassy of the United

Kingdom to the United States, center, and Alan Larson, chairman of the U.S. Chapter of

Transparency International, at the announcement  of OPIC's Anti­Corruption and Transparency

Initiative.

To learn more about OPIC’s Anti­Corruption and Transparency 

Initiative, visit the web site at:

www.opic.gov/about/Transparency/index.asp