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Handbook OPIC
II OPIC Handbook
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OPPORTUNITY
2 OPIC Handbook

Table of Contents

I. Introduction to OPIC 4

OPIC’s Mission 4

Requirements for OPIC Support 5

Eligible Countries 6

Development Contribution 6

U.S. Economic Contribution 7

Environmental Impact 7

Other Requirements 8

Monitoring and Compliance 8

II. Financing 9

General Requirements 10

Project Ownership 10

Financing Plan 10

OPIC Participation 11

Completion Agreement and Sponsor Support 11

Financing Techniques 11

Guaranty Eligibility 12

Loan Terms 12

Relationships with Other Financial Institutions 13

Application Procedures 14

iii. Political Risk Insurance 16

General Requirements 17

Coverages 18

Currency Inconvertibility 18

Expropriation 18

Political Violence 19

Assets Coverage 19

Business Income Coverage 20

Stand-Alone Terrorism Insurance 20

Special Insurance Products 20

Institutional Loans 21

Capital Markets Transactions 21

Leasing 22
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Capital Leases 22

Operating Leases 22

Oil and Gas 22

Expropriation 23

Interference with Operations 23

Natural Resources (Except Oil and Gas) 23

Contractors and Exporters 24

Bid, Performance, Advance Payment 

 and Other Guaranty Coverages 24

Customs Bonds Coverage 25

Assets Coverage 26

Disputes Coverage 26

Election of Coverages 27

Premium Base Rates 28

Availability, Extent of Coverage and Claims 28

Application Procedures 31

Registration 31

Application 31

iv. Investment Funds 32

V. SPECIAL PRODUCTS FOR U.S. SMALL AND

MEDIUM-SIZED BUSINESSES 35

Small and Medium-Enterprise Financing 36

Small Business Center 36

Eligibility Requirements for SME and SBC Products 37

SME/SBC Political Risk Insurance Coverage 37

Application Process 37

vi. Additional Information 39

OPIC Countries and Areas 39

Enterprise Development Network (EDN) 42

Contacting OPIC 42

U.S. Government International Trade Information 45
4 OPIC Handbook

Introduction to OPIC

OPIC’s Mission 

The Overseas Private Investment Corporation (OPIC) was established as an 

agency of the U.S. government in 1971. OPIC 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.

Mobilizing the U.S. private sector to advance U.S. foreign policy and development initiatives, OPIC-supported projects make a difference by expanding economic development, which can encourage political stability and free 

market reforms. Currently, OPIC services are available for new and expanding business enterprises in more than 150 countries worldwide.

OPIC’s financing and political risk insurance also help U.S. businesses of all 

sizes to compete in emerging markets and meet the challenges of investing 

overseas when private sector support is not available. OPIC promotes U.S. 

best practices by requiring projects to adhere to international standards on 

the environment and worker and human rights.
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Requirements for OPIC Support

OPIC supports, insures and finances investment projects with substantial 

U.S. participation that are financially sound, promise significant benefits to 

the social and economic development of the host country, and foster private 

initiative and competition. OPIC will not support projects that could result 

in the loss of U.S. jobs, adversely affect the U.S. economy or the host country’s development or environment, or contribute to violations of internationally recognized worker rights.

OPIC requires significant U.S. involvement in the projects it supports. 

Requirements for OPIC financing, political risk insurance and small businesses differ. For financing eligibility requirements, please see “General 

Requirements” on page 10; for insurance eligibility requirements, please see 

“General Requirements” on page 17; for small business eligibility, please 

see “Eligibility Requirements for SME and SBC Products” on page 37. 

Projects significantly involving U.S. small businesses and cooperatives are 

considered a priority. See pages 35 to 38 for more information.

OPIC support is available for new investments, privatizations, and expansions and modernizations of existing plants. Acquisitions of existing operations are eligible for financing if the investor contributes additional capital 

for modernization and/or expansion. OPIC generally can insure an acquisition of an industrial, commercial or other self-sustaining enterprise, subject to a finding of positive developmental benefits. Investments in certain 

sectors may be excluded from consideration based on statutory or policy 

guidelines. Investors can contact OPIC directly to obtain more information about these sectors. Financing is not available for projects that can 

secure adequate financing from commercial sources. Investors are required 

to confirm that they have considered private sector political risk insurance 

before OPIC will issue coverage.
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Eligible Countries

OPIC services are generally available in some 150 countries and areas. 

From time to time, statutory and policy constraints may limit the availability of OPIC services in certain countries, or countries where services were 

previously unavailable may become eligible. Investors are urged to contact OPIC directly or check the web site www.opic.gov/doingbusiness/

ourwork/index.asp for up-to-date information regarding the availability of 

OPIC services in specific countries, as well as information on the availability of OPIC services in countries not listed.

Development Contribution

OPIC’s mandate is to support U.S. private sector investments that are 

responsive to the development needs of the host country, and that foster 

private sector initiatives and competition. The contribution of a proposed 

investment to the economic and social development of the host country will 

be carefully examined with respect to factors such as:

• leveraging private capital;

• demonstration of social responsibility;

• support for developmental infrastructure;

• increased availability of goods and services of better quality or at 

lower cost;

• development of skills through training;

• transfer of technological and managerial skills;

• foreign exchange earnings or savings;

• job creation;

• encouragement of private ownership;

• host country tax revenues; and

• stimulation of small and medium-sized enterprises.

OPIC is required to discourage monopolistic practices, and projects involving anticompetitive advantages may require additional scrutiny. OPIC will 

provide guidance to assist sponsors in submitting the necessary information.
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U.S. Economic Contribution

OPIC supports only those projects that are not likely to harm the U.S. 

economy or have a negative effect on U.S. employment. OPIC will not support “runaway plants,” which substitute existing U.S. facilities with foreign 

plants to serve the same markets.

By statute, and consistent with overall U.S. government policy, OPIC does 

not participate in projects subject to performance requirements that would 

substantially reduce the potential U.S. trade benefits of the investment. 

Performance requirements are host government incentives designed to 

cause a project to operate in a way that is more beneficial to the local economy than would otherwise be the case. Of particular concern are “traderelated” performance requirements covering local content and maximum 

import and minimum export levels where the effect is to reduce U.S. trade 

benefits that would otherwise accrue.

Environmental Impact

OPIC is required by statute to conduct an environmental assessment of 

every project proposed for insurance or financing and to decline support 

for projects that, in OPIC’s judgment, would have an unreasonable or major 

adverse impact on the environment, or on the health or safety of workers 

in the host country. For most industrial sectors, OPIC expects projects 

to meet the more stringent of World Bank or host-country environmental, 

health and safety standards. Of particular concern are adverse effects on the 

health and safety of employees and the public, as well as on tropical forests, 

national parks, protected areas and endangered species.

For projects in sectors designated as “environmentally sensitive,” a full 

Environmental Impact Assessment (EIA) must be submitted for OPIC’s 

review. As part of its review process, OPIC lists every such project on 

OPIC’s web site for a 60-day public comment period. The listing includes 

the country and industry sector of the projects but not the sponsor’s name. 

This listing may result in requests from members of the public for copies of 

the EIA; therefore, the EIA must be in a form that can be released to the 

public without compromising confidential business information.

www.opic.gov/doingbusiness/investment/environment/index.asp
8 OPIC Handbook

Other Requirements

OPIC is prohibited by statute from supporting projects that contribute to 

violations of internationally recognized worker rights. OPIC insurance and 

finance agreements require the investor to agree to respect these rights, 

including the rights of association, collective bargaining and acceptable 

working conditions with respect to wages, hours of work, occupational 

health and safety, and minimum-age standards.

OPIC does not support projects that involve illicit payments. OPIC insurance 

and finance documentation requires representations and covenants from the 

investor regarding compliance with applicable corrupt practices laws.

Monitoring and Compliance

OPIC systematically monitors investor compliance with U.S. economic, 

environmental, worker rights and corrupt practices representations through 

questionnaires, investor reporting and site visits. Noncompliance may constitute a default under OPIC insurance contracts and loan agreements.
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Financing

OPIC financing provides medium- to long-term funding through direct loans 

and loan guaranties to eligible ventures. OPIC can provide financing on a 

project finance or a corporate finance basis. OPIC generally looks for repayment from the cash flows generated by projects rather than relying solely on 

sponsor guaranties.

OPIC carefully analyzes the economic, technical, marketing and financial 

soundness of each project. There must be adequate cash flow to pay all 

operational costs, service all debt, and provide the owners or sponsors with 

an adequate return on their investments. Sponsors may not need to pledge 

their own general credit beyond the required completion undertakings if 

the project is sufficiently self-sustaining as a project finance transaction. In 

a corporate finance loan structure, OPIC looks to the credit standing and 

cash flow of an existing corporate entity, as well as the project company to 

support debt repayment.

OPIC can provide medium- and long-term financing in countries where conventional financial institutions often are reluctant or unable to lend on such 

a basis. Since its services support private sector investments in financially 

viable projects, OPIC does not offer concessionary terms usually associated 

with government-to-government lending or grant-type financing, nor does 

it typically offer financing of export sales unrelated to long-term investments in overseas businesses. OPIC will not lend to projects that can secure 

adequate financing from commercial sources.
10 OPIC Handbook

GENERAL REQUIREMENTS

In addition to the eligibility requirements indicated on pages 5–8, all projects or transactions considered for OPIC financing must be commercially 

and financially sound. They must be within the demonstrated competence 

of the proposed management, which must have a proven record of success 

in the same, or a closely-related business, as well as a significant continuing 

financial risk in the enterprise.

OPIC provides financing for a wide range of enterprises under terms and 

conditions sufficiently flexible to permit sound developmental projects to be 

implemented.

PROJECT OWNERSHIP

OPIC expects a U.S. equity or debt investor to assume a meaningful share 

of the risk, generally through ownership of at least 25 percent of the equity 

of a project. Exceptions to the amount of U.S. investment requirement may 

be made in cases where a U.S. bank risk shares 25 percent or more with 

OPIC in the financing, or where U.S. brand-name franchisors, operators or 

contractors are significantly involved in the project on a long-term basis.

Normally, more than 50 percent of the voting shares of the overseas venture 

will be held by firms or persons from the private sector. However, financing 

may be offered to an entity in which government ownership of voting shares 

represents the majority, if it is contractually agreed that management will 

remain in private hands, and there is a strong showing of direct U.S. involvement in other respects.

Financing Plan

Investors must be willing to establish sound debt-to-equity relationships that 

will not jeopardize the success of the project through excessive leverage. In 

general, OPIC looks for a debt-to-equity ratio in the range of 60/40. The 

financial structure will vary with the nature of a specific business, and by the 

variability of expected cash flows. Experience indicates that an adequate 

level of equity contribution is essential for a project to succeed. 
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The financial plan should provide funds to meet all costs, including feasibility studies; organizational expenses; land; construction; machinery; equipment; training and market development expenses; interest payments during 

construction; start-up expenses and initial losses; legal expenses and loan 

fees; and adequate working capital.

OPIC Participation

The amount of OPIC’s participation may vary, taking into consideration 

the project’s contribution to the host country’s development, its financial 

requirements, and the extent to which the financial risks and benefits are 

shared among the investors and the lenders. 

OPIC may assist in designing the financial plan and in coordinating it with 

other lenders and investors. OPIC will not generally support more than 75 

percent of the total investment.

Completion Agreement and Sponsor Support

OPIC recognizes that possible cost overruns and early operating problems 

may occur, despite careful planning and an allowance for contingencies in 

the financial plan. Therefore, OPIC, like other limited recourse lenders, 

normally requires that the principal sponsors enter into an agreement that 

guarantees the OPIC loan, the completion of the project, the company’s 

debt service, and cost overruns prior to project completion. Project completion is defined to include certain financial, legal and operating tests, as well 

as physical completion. The sponsors must have the financial capability to 

perform their obligations under this agreement.

In corporate finance transactions, OPIC lends directly to the U.S. corporate 

parent of the foreign venture, and looks to the parent for repayment of the 

loan and all other completion requirements.

Financing techniques

OPIC provides loan guaranties, which are typically used for larger projects, and direct loans, which are reserved for projects sponsored by or 

significantly involving U.S. small businesses and cooperatives. OPIC can 

normally guarantee or lend from $100,000 up to $250 million per project, 
12 OPIC Handbook

although projects in the oil and gas sector with offshore, hard-currency 

revenues may be approved for up to $400 million under certain conditions.

Under both financing techniques, the sponsor or the borrower in corporate 

finance transactions approaches OPIC to analyze and structure financing 

for an overseas project. OPIC determines the appropriate terms of borrowing, and, where a guaranty is sought rather than a direct loan, may assist in 

identifying financial institutions willing to provide the needed funds.

OPIC also expects a U.S. investor to assume a meaningful share of the 

risk, generally through ownership of at least 25 percent of the equity in 

the project. Exceptions to the amount of equity requirement may be made 

in cases where U.S. brand name franchisors, operators, or contractors are 

significantly involved in the project.

Guaranty Eligibility

Guaranties are issued to legal entities created under the laws of the U.S., 

any state or territory, or D.C., such as corporations, partnerships, or 

other associations including nonprofit associations more than 50 percent 

beneficially owned by U.S. citizens. Foreign corporations that are more than 

95 percent U.S. owned are also eligible. Typical guaranty funding institutions include insurance companies, pension funds, and commercial banks.

OPIC-guaranteed lenders are protected by the full faith and credit of the 

United States government. OPIC-guaranteed loans are classified as eligible 

U.S. government securities for insurance companies and many other institutional investors.

LOAN TERMS

The repayment schedule of a direct or guaranteed loan will be designed taking into consideration the purpose of the loan and the projected level of cash 

flows to be generated in the transaction. The cash flows must be sufficient to 

meet interest and principal payments, and to provide for an adequate return 

to equity investors. The terms of such loans will typically provide for a final 

maturity of at least three years, including a suitable grace period during which 

only interest is payable.
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Interest rates on OPIC loans will vary with OPIC’s assessment of the commercial and political risks involved. They will also reflect interest rates in 

long-term capital markets in the United States. Base rates of interest on 

guaranteed loans are comparable to those of other U.S. government-guaranteed issues of similar maturity. To that base rate, OPIC adds its guaranty 

fee or risk spread, calculated as a percentage of the outstanding principal 

amount, depending upon commercial and political risk. Both fixed and 

floating interest rates are available, although direct loans are financed on a 

fixed rate basis only.

In general, OPIC expects that its creditor participation will be on a senior 

basis, pari passu with the holders of other senior debt, and that it will share 

in a first lien on fixed assets and any other appropriate collateral. A hostgovernment guaranty normally is not required by OPIC. Other structures 

will be considered on a case-by-case basis.

Consistent with commercial lending practices, upfront fees range from 1 

percent to 2 percent, commitment fees, maintenance fees and cancellation 

fees may be charged, and reimbursement is required for related out-ofpocket expenses, including fees for outside counsel and the services of 

experts or consultants.

RELATIONSHIPS WITH OTHER FINANCIAL INSTITUTIONS

OPIC’s financing is designed to complement and supplement the lending and investing facilities of commercial banks; local, regional and international development banks and investment funds; other agencies of the 

United States government such as the Export-Import Bank of the United 

States; and a number of other multilateral and bilateral lending institutions. 

OPIC does not compete with the private market. OPIC advises and assists 

U.S. sponsors in securing debt and equity financing from these institutions, 

where appropriate, in conjunction with OPIC financing.

Some of OPIC’s financings involve at least one other lender or independent 

investor, and several such institutions are typically involved in large projects. Many small business projects can be wholly financed by OPIC. OPIC’s 

willingness to finance a substantial portion of debt requirements, to accept 
14 OPIC Handbook

longer or more flexible maturities, and to finance at fixed interest rates may 

facilitate the participation of other lenders and investors in a project.

APPLICATION PROCEDURES

The sponsor of a potential project interested in obtaining financing from 

OPIC should submit an Application for Financing (Form 115) as well as a 

Sponsor Disclosure Report (Form 129). The application lists all required 

attachments including a business plan. These documents should establish 

general eligibility, and give OPIC the basis on which it can respond to the 

amount and basic terms of the requested financing. For more information 

visit www.opic.gov/financing/apply/forms/index.asp.

The application should include:

• a description of the project;

• the identity, background and audited financial statements of the 

project’s proposed principal owners and management;

• planned sources of supply, anticipated output and markets, distribution channels, competition, and the basis for projecting market share;

• a summary of project costs and anticipated suppliers of capital goods 

and services;

• a financial plan, including the sources and uses of funds for the 

project, and the proposed collateral package and sponsors guaranties 

available for the financing;

• pro forma financial statements of the proposed project or corporate 

borrower and accompanying assumptions, which include the requested loan term, interest-only grace period and debt service coverage 

ratios; and

• a description of the contribution the business is expected to make to 

local economic and social development.

The data prepared and submitted by sponsors to substantiate sources of 

equity, raw materials, technical feasibility and market demand are carefully 

analyzed together with the financial forecasts.

Following OPIC’s preliminary review and approval, the sponsors may be 

asked to provide additional economic, financial and technical information. 
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In some instances, OPIC will issue a retainer letter which may indicate that 

OPIC will need to retain independent consultants to assist in its analysis 

and review. Such information is essentially that which any board of directors 

would need before committing its company to an investment. Guidelines for 

formal applications will be provided, though the type of information to be 

supplied will vary with the nature of the proposed business.

The time required to review and approve an application depends on the 

scope and detail of the data presented, as well as on the complexity of the 

transaction, and typically varies from two to six months. Priority is given to 

those projects which best meet OPIC’s developmental and foreign policy 

mandate. In addition, the thoroughness and timeliness with which all the 

information required by OPIC is developed and submitted is a key determinant of the timeliness of the review process. Approval time may be reduced 

in corporate financing transactions since there are fewer project issues to 

be researched and, generally, collateral is located in the United States. 

Investors are encouraged to consult with OPIC early in the loan process, 

since simultaneous satisfaction of as many of the above requirements as possible will speed loan approval and disbursement.

For More Information

For more information on OPIC financing and to apply online, please visit 

www.opic.gov/financing/apply/forms/index.asp.

Email inquiries may be sent to: info@opic.gov

Written requests may be sent to:

Overseas Private Investment Corporation

Information Officer, Office of External Affairs

1100 New York Avenue, N.W.

Washington, D.C. 20527
16 OPIC Handbook

Political Risk Insurance

OPIC insurance can cover the following three political risks:

• currency inconvertibility — inability of the investor to convert profits, 

debt service and other investment returns from local currency into 

U.S. dollars, or to transfer U.S. dollars out of the host country;

• expropriation — loss of an investment due to expropriation, nationalization or confiscation by the host government; and

• political violence — loss of assets or business income due to war, 

revolution, insurrection, or politically motivated civil strife, terrorism 

or sabotage.

OPIC can insure up to $250 million per project and up to $300 million 

for projects in the oil and gas sector with offshore, hard currency revenues. 

Projects in the oil and gas sector with offshore, hard currency revenues 

may be approved for an exposure limit of up to $400 million if the project 

receives a credit evaluation (“shadow rating”) of investment grade or higher. 

OPIC has no minimum investment size requirements.
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GENERAL REQUIREMENTS

OPIC provides political risk insurance to U.S. investors, contractors, 

exporters and financial institutions involved in international transactions. 

Specifically, OPIC insurance is available to:

• U.S. citizens;

• corporations, partnerships or other associations created under the 

laws of the United States, its states or territories, and beneficially 

owned by U.S. citizens;*

• foreign corporations that are more than 95 percent owned by investors eligible under the above criteria; and

• other foreign entities that are 100 percent U.S.-owned.

Insurance is available for investments in new ventures, expansions of existing enterprises, privatizations and acquisitions with positive developmental 

benefits. Coverage is available for equity investments, parent company and 

third-party loans and loan guaranties, technical assistance agreements, 

cross-border leases, consigned inventory or equipment, and other forms of 

investment. Coverage is also available for contractors and exporters’ exposures, including certain breaches of contractual dispute resolution mechanisms and wrongful calling of bid, performance, advance payment, other 

guaranties posted in favor of foreign buyers, and other risks.

* OPIC deems a corporation organized under the laws of the United States 

or its states and territories to be beneficially owned by U.S. citizens if more 

than 50 percent of each class of its issued and outstanding stock is owned 

by U.S. citizens either directly or beneficially. Where shares of stock of a 

corporation with widely dispersed public ownership are held in the names 

of trustees or nominees (including stock brokerage firms) with addresses in 

the United States, such shares may be deemed to be owned by U.S. citizens 

unless the investor has knowledge to the contrary. OPIC generally permits 

the beneficial ownership of U.S. corporations to be determined by tracing back through any foreign ownership of their shares to the ultimate 

beneficial owners.
18 OPIC Handbook

COVERAGES

Currency Inconvertibility

Currency inconvertibility coverage compensates investors if new currency 

restrictions, or other government action or inaction, prevent the conversion 

or transfer of investment returns from insured investments. Currency restrictions may take the form of new, more restrictive foreign exchange regulations or a failure by exchange control authorities to act on an application for 

hard currency.

OPIC inconvertibility coverage may insure earnings, returns of capital, 

principal and interest payments, technical assistance fees, and similar remittances on insured investments. 

OPIC inconvertibility coverage does not protect against the devaluation of 

a country’s currency. Rather, OPIC insures investors against deterioration 

of their ability to convert local currency or transfer dollars from the project 

country through any legal exchange mechanism sanctioned by the central 

government of the project country.

Expropriation

Expropriation coverage protects against the nationalization, confiscation or 

expropriation of an investment, including “creeping” expropriation, due to 

unlawful government acts (or a series of acts) that deprive the investor of its 

fundamental rights in a project. The coverage excludes losses due to lawful 

regulation or taxation by host governments and actions provoked by the 

investor or foreign enterprise.

For equity investments, compensation is based on the book value of the 

investment as of the date of expropriation. In most cases, OPIC covers 

total expropriation only. To receive compensation, an investor must assign 

all rights in the insured investment to OPIC. For parent-company loans to 

subsidiaries, compensation is based on outstanding principal and accrued 

interest that would have been paid.
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Coverage for expropriation of funds only — unlawful host government 

blockage of funds intended to be remitted as returns of the insured investment or earnings on it — may be purchased for a reduced premium in conjunction with currency inconvertibility coverage. Insurance for specialized 

risks peculiar to a specific project may be available, including, for example, 

coverage against losses resulting from the unlawful breach of specific host 

government obligations identified by the insured at the outset as vital to the 

successful operation of the project. Under certain circumstances, OPIC is 

also able to cover the unlawful breach of specific contractual obligations of 

a subsovereign or a corporation owned or controlled by a foreign government. These coverages are available on a case-by-case basis and will be 

individually rated.

Political Violence

Political violence coverage compensates for property and income losses 

caused by violence undertaken for political purposes. Declared or undeclared war, hostile actions by national or international forces, civil war, revolution, insurrection, and civil strife, including politically motivated terrorism 

and sabotage, are all examples of political violence covered by OPIC. 

Actions undertaken primarily to achieve labor or student objectives are not 

covered. OPIC pays compensation for two types of losses: damage to tangible assets, and business income loss caused by damage to tangible assets. 

An investor may purchase one or both coverages.

Assets Coverage

Assets coverage compensates for loss of or damage to tangible property 

caused by political violence. Compensation is based on the investor’s share 

of the adjusted cost of the property or replacement cost. Adjusted cost is 

defined as the least of the original cost of the item, the fair market value at 

the time of loss, or the cost to repair the item. OPIC may pay replacement 

cost up to twice the original cost of the lost or damaged property, provided 

the property is actually replaced within three years.
20 OPIC Handbook

Business Income Coverage

Business income coverage protects the investor’s share of income losses 

resulting from damage to, or loss of, the use of the assets of the foreign 

enterprise caused by political violence. In addition, OPIC can provide 

coverage for evacuation expenses and income losses if the political violence 

causes the evacuation or temporary abandonment of operations of a project. With an “off-site” rider, OPIC also may compensate for income losses 

resulting from damage to specific sites outside the insured facility, such as a 

critical railway spur, power station, or supplier. 

Compensation is based on what the project would have realized in net 

income but for the damage or loss of use of the assets, plus the investor’s 

share of the project’s continuing, normal operating expenses that must be 

paid during the time the damage is being repaired. OPIC will also pay for 

expenses that reduce the business income loss, such as renting a temporary 

facility. Compensation is paid for the period until productive capacity can 

reasonably be restored, not to exceed one year.*

Stand-Alone Terrorism Insurance

Stand-alone terrorism insurance is available for equity investments and investments of property. Terrorism coverage protects against violent acts undertaken 

by individuals or groups that do not constitute national or international armed 

forces with the primary intent of achieving a political objective. Coverage 

includes protection against the use of chemical, biological, radiological or 

other weapons of mass destruction. OPIC can provide terrorism insurance 

for up to ten years, and is available for both assets and business income

Special Insurance ProDUCTS

OPIC has several insurance products offering coverages tailored to meet 

the special insurance needs associated with certain types of international 

investments.

* A third form of political violence coverage, Interference with Operations, is 

available for certain projects, including Oil and Gas Projects. See page 23.
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Institutional Loans

OPIC’s political risk insurance enables U.S. banks and other financial 

institutions to play an active role in financing projects in developing countries while managing the incremental cross-border exposure associated 

with these investments. A wide range of banking activities can be insured by 

OPIC, including:

• loans made or arranged by banks;

• debt-for-equity investments;

• commodity price or interest rate swaps; and

• gold loans.

For institutional lenders, currency inconvertibility insurance coverage pays 

compensation for defaults on scheduled payments that result from deterioration in the ability to convert these payments from local currency to dollars, 

or to transfer dollars outside the host country. In the case of expropriation 

or political violence, compensation generally is payable if the borrower 

defaults on a scheduled payment as a direct result of one of these events, 

and the default lasts three months (or one month in the event of subsequent 

defaults caused by the same event).

Loans must have a tenor of at least three years, and borrowers must be 

private-sector enterprises in the foreign country. Coverage may be tailored 

to reflect the specific nature of the project.

Capital Markets Transactions

In response to growing demand, especially for infrastructure projects, 

investors and their financial advisors have sought new sources of financing, 

and have turned to the capital markets to supplement traditional bank 

financing. Consequently, capital markets transactions, such as 144A bond 

issues, are playing an increasingly important role in financing projects in 

emerging markets. OPIC can provide inconvertibility and expropriation 

of funds coverage for capital markets transactions similar to the coverage 

provided under OPIC’s institutional lender’s product. The coverage may 

enable investors to mobilize capital markets funding for transactions where 

it was previously unavailable.
22 OPIC Handbook

Leasing

Cross-border leasing is another means of financing capital investments in 

many developing and emerging market countries. OPIC has insurance packages to cover both capital and operating leases. The insurance is available 

to U.S. investors leasing to private-sector entities. Transactions must have a 

tenor of three years or more.

Capital Leases

Capital or financial leases are those where ownership of the asset is expected to be transferred to the lessee at the end of the lease. Under OPIC’s 

inconvertibility coverage, compensation is paid if defaults on lease payments are caused directly by deterioration in the conditions for conversion 

of local currency or transfer of dollars. In the case of expropriation or political violence, compensation is paid if one of these events directly causes a 

default on a lease payment.

Operating Leases 

Under operating leases where the U.S. lessor expects to recover the leased 

assets when the lease expires, expropriation and political violence compensation is based on the value of the leased assets, including installation and 

transportation costs.

Under OPIC’s inconvertibility coverage, compensation is paid if defaults 

on lease payments are caused directly by deterioration in the conditions for 

conversion of local currency, or transfer of dollars.

OPIC also provides coverage against unlawful host-government actions that 

prevent a lessor from enforcing its right to repossess, re-export or de-register leased equipment.

Oil and Gas

OPIC has comprehensive insurance products to encourage petroleum 

exploration, development and production in developing countries. In addition to its standard political risk insurance, OPIC can provide the following 

enhanced coverages:
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Expropriation

Expropriation coverage for oil and gas projects includes coverage for losses 

caused by material changes in project agreements unilaterally imposed by a 

host government. This includes abrogation, impairment, and repudiation or 

breach of concession agreements, production sharing agreements, service 

contracts, risk contracts, and other agreements between the U.S. investor 

or the foreign enterprise and the foreign government. Such actions must 

last for at least six months, and prevent the insured investor from effectively exercising its fundamental rights with respect to the project agreements (such as rights to take and export petroleum, or to be paid for it), 

and otherwise meet OPIC’s expropriation criteria. The coverage can also 

include compensation for confiscation of tangible assets and bank accounts. 

Compensation is based on the value of the insured investment, or, in the 

case of confiscation of specific assets, the book value of the confiscated 

assets. OPIC will not compensate for loss of reserves of any kind.

Interference with Operations 

This coverage insures against cessation of operations lasting six months or 

more caused by political violence. The investor has the right, and OPIC 

may require the investor, to reacquire from OPIC its insured interests in the 

project if within five years the political violence has abated and the investor 

can resume operations.

Natural Resources (Except Oil and Gas)

Mineral and other natural resource projects can be major contributors to 

economic development. To encourage such projects, OPIC may offer coverage tailored to the special needs of investors in this sector.

Additionally, investors may also be insured against the unlawful withdrawal 

or breach by the host government of mineral exploration and development 

rights, and other legal rights vital to the success of a particular project. 

Larger natural resource projects typically involve substantial risk-taking by 

project lenders, owners and others. Accordingly, OPIC typically offers coverage for equity, parent company and institutional loans, owners’ guaranties 

of loans (including completion guaranties), leases of equipment to project 

companies, and other exposures to these projects.
24 OPIC Handbook

Contractors and Exporters

OPIC’s insurance for U.S. contractors and exporters insures against:

• wrongful calling of bid, performance or advance payment guaranties, 

customs bonds, and other guaranties;

• loss of physical assets and bank accounts due to confiscation or political violence and inconvertibility of proceeds from the sale of equipment used at the site; and

• losses due to certain breaches by the foreign buyer of the contractual 

disputes resolution procedure.

This insurance can protect U.S. companies acting as contractors in international construction, sales or service contracts, and U.S. exporters of 

heavy machinery, turbines, computers, medical equipment and other goods. 

Typically, coverage is issued when the U.S. company has a contract with a 

foreign government buyer.

Bid, Performance, Advance Payment and 

Other Guaranty Coverages

Bid, performance, advance payment and other guaranties issued on behalf 

of a U.S. exporter of goods or services, or a U.S. contractor in favor of a 

foreign government buyer, can be covered against the risk of a wrongful 

calling. The guaranties usually are in the form of irrevocable, on-demand, 

standby letters of credit. A wrongful calling is one not justified by the terms 

of the underlying contract, or the invitation for bids.

In the case of a bid guaranty, the insured may file a claim when it believes a 

wrongful calling has occurred, and OPIC will then determine if the calling 

is, in fact, wrongful. With performance, advance payment and other guaranties, the insured must invoke the dispute resolution procedure in its contract with the foreign buyer before OPIC will pay compensation.

Events of Compensation. OPIC will compensate for wrongful calling of performance or advance payment guaranties if:

• the foreign buyer’s inaction prevents the dispute resolution procedure 

from proceeding;

• the foreign buyer refuses to pay an award in favor of the insured;
www.opic.gov 25

• the procedure yields an award in favor of the foreign buyer, and the 

award can be proven to have been obtained through fraud, corruption 

or duress, or, if there is a written record of the proceedings, the award 

is unsupported by substantial evidence in that record;

• the decision maker fails to issue a determination within a reasonable 

period of time (not less than 36 months) despite the insured’s compliance with all of the procedure’s requirements; or

• due to changed conditions in the project country, it would be too dangerous or futile for the insured to pursue dispute settlement.

Requirements. Coverage for wrongful calling of performance, advance payment and other guaranties is available only when the underlying contract 

contains a dispute resolution procedure that, at the time insurance coverage 

is issued, is fair, impartial and expeditious, and leads to enforceable results.

Exclusions. OPIC does not compensate the insured if the guaranty is drawn 

because the insured fails to perform its contractual obligations, or the 

insured provokes or agrees to the drawing.

Private Entities. Coverage is also available to insureds who post guaranties 

in favor of private, nongovernmental entities. In such cases, wrongful calling 

is defined as a drawing that is not justified by the terms of the contract, and 

is directly caused by the host government, or is followed by unlawful hostgovernment action that thwarts the dispute resolution procedure.

Customs Bonds Coverage

Customs bonds are required when a foreign government wants assurances 

that a company will re-export machinery or equipment temporarily moved 

into the country, usually for the duration of a construction project or trade 

show, rather than selling it locally. Customs bonds replace customs duties 

and may be as much as 200 percent of the value of the equipment.

OPIC provides compensation for a loss resulting from a wrongful calling by 

a foreign government of a standby letter of credit issued as a customs bond. 

In the case of a claim, OPIC will determine if a calling is wrongful without 

requiring the insured to pursue dispute resolution procedures.
26 OPIC Handbook

Assets Coverage 

U.S. contractors and exporters with physical assets overseas may insure 

project assets for the following risks:

Currency Inconvertibility. Local currency proceeds from the sale of insured 

property after job completion are covered against the risk that the currency will 

become inconvertible into U.S. dollars. Inconvertibility is offered only to the 

extent local currency is convertible, and dollars are transferable under hostcountry exchange regulations and practices in effect at the time the insurance 

is issued. Payments for work completed under the contract are not covered.

Confiscation. Physical assets and bank accounts of the insured in the 

host country in connection with a project are covered against the risk of 

confiscation by the host government.

Political Violence. Physical assets owned by the insured or for which the 

insured bears the risk of loss are covered against the risk of damage due to 

political violence.

Disputes Coverage 

Disputes coverage provides protection in the event of contractual disputes 

that may arise during the performance of a contract. As a condition for compensation, a U.S. contractor must invoke the dispute resolution mechanism 

in its contract with the foreign buyer.

Events of Compensation. OPIC will compensate the contractor if:

• the foreign buyer refuses to pay a judgment or an award in favor of the 

insured;

• the foreign buyer’s inaction prevents the dispute resolution procedure 

from proceeding; or

• due to changed conditions in the project country, it is too dangerous or 

would be futile for the insured to pursue the agreed-upon procedure.

In the first situation, OPIC compensation is based on the amount of the 

award. In the latter two cases, compensation is limited to the insured’s 

uncompensated cost of goods, services and materials provided pursuant to 

its contract with the buyer.
www.opic.gov 27

Requirements. Disputes coverage is only offered when a project has secure 

and adequate funding, commonly from an international development or 

export credit agency. As with performance and advance payment guaranties, 

disputes coverage is only available when the underlying contract contains a 

dispute resolution procedure that, at the time insurance coverage is issued, 

is fair, impartial and expeditious, and leads to enforceable results.

Private Entities. If the insured’s contract is with a private, nongovernmental entity, OPIC will only compensate the insured if nonpayment or 

noncompliance with the dispute resolution procedure is directly caused by 

the host government.

Election of Coverages

Coverage elections for most equity and shareholder debt investments are 

based on a coverage ceiling and an active amount. The coverage ceiling 

represents the maximum insurance available for the insured investment and 

future earnings under an insurance contract. Premiums are calculated based 

on the active amount, which represents the insurance actually in force during any contract period.

The active amount under all coverages must equal at least the book value of 

the insured investment unless a lower coverage ceiling is elected. There is no 

charge for the difference between the coverage ceiling and the active amount.

For most other investment types, premiums are computed based on a 

maximum insured amount (MIA), a current insured amount (CIA) and a 

standby amount. The MIA represents the maximum insurance available for 

the insured investment under an insurance contract. The CIA represents 

the insurance actually in force during any contract period. The difference 

between the MIA and CIA is the standby amount. Separate premiums are 

charged for CIA and standby amounts. For loans, premiums are charged 

on the “covered amount,” the amount of disbursed principal plus accrued 

interest less principal paid to date, and a standby fee is charged for undisbursed principal.
28 OPIC Handbook

Premium Base Rates

Rates may fall outside of the ranges shown in the tables, depending on the 

risk profile of the project. The ranges shown also are subject to change 

without notice. Once an insurance contract is executed, the rates are fixed 

for the life of the contract. OPIC insurance contracts generally require that 

premiums be paid annually in advance.

OPIC’s base rates are listed on pages 29 and 30 and are available on the 

OPIC web site: www.opic.gov/insurance/details/rates/index.asp

AVAILABILITY, EXTENT OF COVERAGE AND CLAIMS

Availability

OPIC insurance may not be available for certain coverages, or there may 

be limitations for underwriting or other reasons. Investors should consult OPIC’s web site at www.opic.gov/doingbusiness/ourwork/index.asp 

regarding availability of its services in particular countries.

Extent of Coverage

Term. Insurance policies for equity coverage are available for up to 20-year 

terms. For loans, leases and transactions covered by the contractors and 

exporters insurance product, the term is generally equal to the duration of 

the underlying contract or agreement.

Self-Insurance Requirement. OPIC can insure up to 90 percent of an eligible investment. OPIC’s statute generally requires that investors bear the 

risk of loss of at least 10 percent. However, loans and leases from financial 

institutions to unrelated third parties may be insured for 100 percent of 

principal and interest.

Coverage Multiples. For equity investments, OPIC typically issues insurance commitments equal to 270 percent of the initial investment — 90 percent representing the original investment, and 180 percent to cover future 

earnings. Coverage amounts may be limited for investments in countries 

where OPIC has a high portfolio concentration.
www.opic.gov 29

MANUFACTURING SERVICES

Annual Base Rates per $100 of Coverage 

Coverage Active/Current Standby

Inconvertibility $0.25–$0.45 $0.20

Expropriation $0.50–$0.70 $0.20 

Political Violence*

Business Income $0.30–$0.50 $0.20 

Assets $0.40–$0.60 $0.20

* Discounted rates may be available for combined business income and assets political 

violence coverages.

INSTITUTIONAL LOANS AND LEASES 

Annual Base Rates per $100 of Coverage*

Covered Coverage Undisbursed

 Amount** Principal 

Inconvertibility $0.35–$0.55 $0.20 

Expropriation $0.40–$0.75 $0.20 

Enhanced Inconvertibility $0.55 $0.20 

Political Violence $0.35–$0.65 $0.20 

* Discount rates may be available for combinations of coverages.

** The covered amount is the amount of disbursed principal plus accrued interest, less 

principal repaid to date.

OIL AND GAS 

Annual Base Rates per $100 of Coverage 

Coverage Exploration Development/ Standby

Production

Inconvertibility $0.20–$0.40 $0.20–$0.40 $0.20 

Expropriation $0.35–$0.50 $1.35–$1.60 $0.20 

Political Violence $0.65–$0.85 $0.65–$0.85 $0.20 

Interference with 

Operations $0.35–$0.55 $0.35–$0.55 $0.20 
30 OPIC Handbook

INFRASTRUCTURE/NATURAL RESOURCES (Except Oil and Gas)

Annual Base Rates per $100 of Coverage 

Coverage Active/Current Standby 

Inconvertibility $0.25–$0.45 $0.20 

Expropriation $0.55–$0.85 $0.20 

Political Violence

Business Income $0.30–$0.55 $0.20 

Assets $0.40–$0.75 $0.20 

CONTRACTORS AND EXPORTERS

Annual Base Rates per $100 of Coverage 

Coverage Current Standby 

Inconvertibility $0.25–$0.45 $0.20

Expropriation $0.55–$0.70 $0.20

Political Violence $0.40–$0.60 $0.20

Bid Bonds $0.40–$0.60 $0.20 

Performance, Advance $0.50–$0.65 $0.20

Payment and Other Guaranties

Disputes $0.60–$0.80 $0.20 

CAPITAL MARKETS

Annual Base Rates per $100 of Coverage 

Coverage Active/Current Standby 

Enhanced Inconvertibility $0.60 $0.20
www.opic.gov 31

Claims

OPIC, in cooperation with the U.S. investor, other U.S. government agencies, the local United States embassy, and the host government, works to 

avert potential claim situations before they materialize. OPIC’s claim process is designed to ensure that OPIC protects the taxpayer, preserves the 

project, if possible, and pays valid claims. When OPIC has paid or settled 

claims, its recovery rate has been outstanding. To read more, visit OPIC’s 

web site: www.opic.gov/insurance/claims/index.asp.

APPLICATION PROCEDURES

Registration

Investors are required to register projects with OPIC before the investment 

has been made or irrevocably committed. Registration is free of charge and, 

to the extent permitted by law, treated as confidential business information. 

To register, an investor must submit Form 50 — Request for Registration 

for Political Risk Insurance. Upon receipt of Form 50, OPIC will send a 

confirmation letter and application forms. A registration is valid for two 

years, and may be renewed in one-year increments. Registration of a project 

is nonbinding, and in no way constitutes a commitment to issue insurance, 

nor does it indicate that OPIC’s eligibility criteria have been met.

Application 

Once the final form of an investment is determined, an investor must submit Form 52 — Application for Political Risk Insurance. The application 

provides OPIC with detailed information necessary to determine a project’s 

eligibility and underwriting risks. OPIC will charge a retainer fee after the 

submission of an application in order to proceed with review of the project.

For More Information

For more information on OPIC political risk insurance and to apply online, 

please visit www.opic.gov/insurance/apply/index.asp. 

Email inquiries may be sent to: applyins@opic.gov

Written requests may be sent to: 

Overseas Private Investment Corporation

Applications Officer, Insurance Department

1100 New York Avenue, N.W.

Washington, D.C. 20527
32 OPIC Handbook

Investment Funds

OPIC Investment Funds mobilize private capital for direct equity investment by qualified fund managers in private companies located in developing 

countries and emerging markets. By doing so, OPIC is helping to bridge the 

enormous gap that exists in these markets between the supply of, and the 

need for, risk capital.

Private equity capital is widely recognized as a key engine of entrepreneurial activity, technical innovation, job creation, and economic growth. Yet, the 

amount of private equity capital available in the developing world is a small 

fraction of that on offer to businesses in the U.S. and Europe.

OPIC is one of the largest providers of private equity capital to the emerging 

markets. Since the first OPIC-supported investment fund in 1991, OPIC’s 

funding commitments (as of FY 2007) are approaching $3 billion to almost 

40 private equity funds. These funds in turn have invested $3.5 billion in 

more than 400 privately owned and managed companies—the vast majority 

of which are small or medium-sized entities—located across 53 developing 

countries and emerging markets that are eligible for OPIC support.

The developmental benefits to emerging economies of the risk capital 

mobilized by OPIC are not limited to the amounts invested. Private equity 

fund managers bring not just capital but expertise, experience and networks to the companies in which they invest, all directed toward the goal 

of building value and generating growth. Fund managers guide the strategic direction of companies, participate actively on company boards, and 

help companies recruit experienced operational managers. Given that 

management skill and experience is often scarce in emerging markets, the 

development benefits of this mobilization of expertise are substantial and 

far-reaching: better productivity, reliable financial controls, improved corporate governance, modern business practices, and improved health and 

safety. Moreover, private equity funds are active advocates for improved 

corporate governance, better local legal and regulatory environments, 

respect for private property and shareholder rights, and the development 

of robust capital and financial markets.
www.opic.gov 33

By supporting top fund managers across the emerging markets, OPIC seeks 

not only to provide immediate benefits to the countries and companies in 

which the funds invest, but to demonstrate to the billions of dollars represented by private institutional investors currently sitting on the sidelines 

of investing in these countries, that emerging markets private equity is an 

attractive asset class.

OPIC mobilizes risk capital for emerging markets by providing (through a 

guaranty program) debt capital to private equity funds. OPIC’s support is 

combined with funds raised from private sector institutions and invested in 

private companies in these markets. OPIC is thus a creditor of the funds it 

supports, providing in most instances approximately one-third of the fund’s 

total capital, and receiving debt returns on its investment. The structure of 

the debt is typically analogous to that of a zero coupon loan, with most of 

the interest expense capitalized until the fund liquidates its investments.

OPIC utilizes an open, competitive process in selecting fund managers, 

which is initiated periodically through the publication of a “call for proposals” in private equity trade journals and on OPIC’s web site. Typically 

teaming with a prominent private equity advisory consultant, a selection 

committee established within OPIC conducts extensive manager evaluation 

and due diligence prior to recommending any proposal for OPIC support. 

Any fund manager meeting the selection criteria published in the call will be 

considered, but only the managers that best fulfill such criteria are selected.

To ensure that OPIC’s Investment Funds operate on a self-sustaining basis, 

reflect current policy priorities, and address the dynamics of the private 

equity market, OPIC utilizes asset allocation planning to coordinate its 

response to policy initiatives and market needs while maintaining a diversified portfolio of funds.

OPIC’s support may not be used for investments that displace U.S. employment. Indeed, OPIC’s Investment Funds strengthen economic growth 

at home through the connections that may be established between U.S. 

companies and the businesses supported overseas, such as joint ventures, 

franchising, and supply and distribution arrangements. In addition, OPIC 

actively monitors and conducts periodic reviews of the funds it supports 
34 OPIC Handbook

and their portfolio company investments to ensure compliance with OPIC’s 

requirements with respect to the environment, health and safety, and worker 

and human rights.

For More Information

For more information about OPIC’s Investment Funds, please visit 

www.opic.gov/investment/index.asp

Email inquiries may be sent to: info@opic.gov

Written requests may be sent to:

Overseas Private Investment Corporation 

Vice President, Investment Funds Department 

1100 New York Avenue, N.W.

Washington, D.C. 20527
www.opic.gov 35

Special Products for U.S. Small and 

Medium-Sized Businesses

OPIC recognizes that U.S. small businesses looking to participate in the 

global marketplace have unique requirements. Lack of resources to pursue 

opportunities abroad, concern over political risks, or the inability to find 

private sector support can prevent small businesses from expanding overseas. To help meet these needs, OPIC can provide eligible businesses special financing and political risk insurance products which feature enhanced 

customer service, flexible coverage, and easier access to OPIC services 

through a streamlined approval process.
36 OPIC Handbook

Small and Medium-Enterprise Financing

For U.S. companies with annual revenues less than $250 million, OPIC’s 

Small and Medium-Enterprise Financing (SME) offers direct loans and loan 

guaranties from $100,000 up to $250 million to facilitate and support an 

overseas investment by a U.S. business. An OPIC loan can generally cover 

up to 60 percent of total project costs for new ventures, and up to 75 percent for expansions, including project development and up-front financing 

costs, capital expenditure requirements and working capital.

Small Business Center

OPIC’s Small Business Center (SBC) offers qualified small businesses, with 

annual revenues less than $35 million, the opportunity to utilize OPIC’s 

streamlined approval process. 

SBC Financing offers direct loans from $100,000 to $10 million with terms 

from 3–15 years. While the eligible U.S. small business must own at least 

25 percent of the overseas project, OPIC may be able to finance up to 65 

percent of the total project costs.

Interest rates for SBC loans are fixed for the life of the loan and are based 

upon OPIC’s cost of funds for comparable maturities* plus an appropriate 

risk spread. In addition, there may be a one-time facility fee of up to 2 percent and an annual maintenance fee not to exceed 1 percent of the outstanding balance of the loan. 

*OPIC cost of funds is set by the U.S. Treasury in publication H15 under the 

heading ‘Constant Maturities.’ These Treasury rates can be found at: 

www.federalreserve.gov/releases/h15/current
www.opic.gov 37

Eligibility Requirements for SME and SBC Products

Eligible U.S. small businesses must own at least 25 percent of the equity 

in the project, although other significant involvement in the project by U.S. 

small businesses will be considered for purposes of eligibility determination. 

Exceptions to the amount of equity required may be made in cases where 

U.S. brand name franchisors, operators, or contractors are significantly 

involved in the project.

OPIC will not support projects that could result in the loss of U.S. jobs, 

adversely affect the U.S. economy or the host country’s development or 

environment, or contribute to worker and human rights violations.

SME/SBC Political Risk Insurance Coverage

To protect the overseas investment of a U.S. small business from political 

uncertainties, OPIC provides insurance against loss or damage resulting from 

political violence, expropriation, or the inability to convert local currency.

OPIC can insure up to $250 million per project for a maximum 20-year 

term at fixed rates for the life of the insurance contract. There is no minimum investment size requirement, and coverage is available for equity 

investments, parent company and third-party loans and loan guaranties, 

technical assistance agreements, cross-border leases, contractors’ and 

exporters’ exposures, and other forms of investment.

Application Process

For financing, the small business must submit a completed finance application, including all required attachments to the application, such as a formal 

business plan, financial projections, financial statements and sponsor disclosure forms. OPIC strongly recommends that investors contact an OPIC 

representative to discuss his or her project proposal prior to submitting an 

application package for SME/SBC financing. For more information, please 

contact the Information Officer at 202-336-8799 or email info@opic.gov. 
38 OPIC Handbook

For small businesses that want political risk protection, the investors must 

register their project, complete an insurance application, and provide a 

formal business plan.

For More Information

For more information on OPIC’s SME and SBC products, please visit 

www.opic.gov/smallbusiness/

Email inquiries may be sent to: info@opic.gov

Written requests may be sent to: 

Overseas Private Investment Corporation

Information Officer, Office of External Affairs

1100 New York Avenue, N.W.

Washington, D.C. 20527
www.opic.gov 39

Additional Information

OPIC Countries and Areas

OPIC services encourage U.S. private investment in some 150 countries 

and areas around the world, contributing to economic growth at home 

and abroad.

OPIC services are generally available in the countries and areas listed on 

the following pages. From time to time, statutory and policy constraints 

may limit the availability of OPIC services in certain countries, or countries 

where services were previously unavailable may become eligible. Investors 

are urged to contact OPIC directly or check the web site: www.opic.gov/

doingbusiness/ourwork/index.asp for up-to-date information regarding 

the availability of OPIC services in specific countries, as well as information 

on the availability of OPIC services in countries not listed.
40 OPIC Handbook

(As of September 30, 2007)

Africa and the 

Middle East

Algeria

Angola

Bahrain

Benin

Botswana

Burkina Faso

Burundi

Cameroon

Cape Verde

Central African Republic

Chad

Congo

Congo, Democratic 

Republic of

Côte d’Ivoire

Djibouti

Egypt

Equatorial Guinea

Eritrea

Ethiopia

Gabon

Gambia

Ghana

Guinea

Guinea-Bissau

Iraq

Israel

Jordan

Kenya

Kuwait

Lebanon

Lesotho

Liberia

Madagascar

Malawi

Mali

Mauritania

Mauritius

Morocco

Mozambique

Namibia

Niger

Nigeria

Oman

Rwanda

São Tomé and Príncipe

Senegal

Sierra Leone

Somalia

South Africa

Swaziland

Tanzania

Togo

Tunisia

Uganda

West Bank and Gaza

Yemen

Zambia

Zimbabwe

Asia and the pacific

Afghanistan 

Bangladesh

Cambodia

Cook Islands

East Timor

Fiji

India

Indonesia

Kiribati

Laos

Malaysia

Marshall Islands

Micronesia, Federated States of

Mongolia

Nepal

Pakistan

Palau

Papua New Guinea

Philippines
www.opic.gov 41

Samoa

Singapore

South Korea

Sri Lanka

Taiwan

Thailand

Tonga

Vietnam

Europe and Eurasia

Albania

Armenia

Azerbaijan

Bosnia and Herzegovina

Bulgaria

Croatia

Cyprus

Czech Republic

Estonia

Georgia

Greece

Hungary

Ireland

Kazakhstan

Kosovo

Kyrgyzstan 

Latvia

Lithuania

Macedonia

Malta

Moldova

Montenegro

Northern Ireland

Poland

Portugal

Romania

Russia

Serbia

Slovakia

Slovenia

Tajikistan

Turkey

Turkmenistan

Ukraine

Uzbekistan

Latin America and 

the caribbean

Anguilla

Antigua and Barbuda

Argentina

Aruba

Bahamas

Barbados

Belize

Bolivia

Brazil

Chile

Colombia

Costa Rica

Dominica

Dominican Republic

Ecuador

El Salvador

French Guiana

Grenada

Guatemala

Guyana

Haiti

Honduras

Jamaica

Mexico

Netherlands Antilles

Nicaragua

Panama

Paraguay

Peru

St. Kitts and Nevis

St. Lucia

St. Vincent and the Grenadines

Suriname

Trinidad and Tobago

Turks and Caicos

Uruguay
42 OPIC Handbook

Enterprise Development Network (EDN)

The Enterprise Development Network (EDN) is a strategic alliance between 

OPIC and the private sector. Through a growing network of private sector 

organizations, EDN greatly extends OPIC’s ability to provide financing 

and political risk insurance (PRI) to more micro-, small- and medium-sized 

enterprises (MSMEs) doing business in developing countries.

MSMEs that need assistance in completing a loan application package, 

including a business plan, marketing strategy and financial projections or 

assistance in completing the OPIC Political Risk Insurance application 

package, should contact an EDN Loan Originator. The list of loan originators, as well as PRI Originators, Designated Lenders, and EDN Advisors, is 

expanding. The most current list, with contact information included, is available on the OPIC web site at www.opic.gov/doingbusiness/edn/index.asp.

Contacting OPIC

General Information

OPIC on the Internet

If you have access to the Internet, visit OPIC’s web site at the address 

below for a wide variety of publications, application forms, press releases, 

OPIC’s free electronic newsletter and other information, including updates 

on the information contained in this document. www.opic.gov

Electronic Mail

To obtain general information via electronic mail, requests may be sent to: 

info@opic.gov

Written Inquiries

Written requests for general information may be sent to: 

Overseas Private Investment Corporation 

Information Officer, Office of External Affairs 

1100 New York Avenue, N.W.

Washington, D.C. 20527
www.opic.gov 43

The OPIC Infoline

OPIC maintains an automated, 24-hour-a-day system to provide callers 

with general information on OPIC’s financing and insurance products. The 

OPIC Info Line telephone number is: 202-336-8799.

Financing information

Written requests may be sent to:

Overseas Private Investment Corporation 

Information Officer, Office of External Affairs

1100 New York Avenue, N.W.

Washington, D.C. 20527

Email: info@opic.gov

www.opic.gov/financing/index.asp

Political Risk Insurance information

Written requests may be sent to:

Overseas Private Investment Corporation 

Applications Officer, Insurance Department

1100 New York Avenue, N.W.

Washington, D.C. 20527

Email: applyins@opic.gov

www.opic.gov/insurance/index.asp

INVESTMENT FUNDS INFORMATION

Written requests may be sent to:

Overseas Private Investment Corporation 

Vice President, Investment Funds Department 

1100 New York Avenue, N.W.

Washington, D.C. 20527

Email: info@opic.gov

www.opic.gov/investment/index.asp
44 OPIC Handbook

Small business information

Written inquiries may be sent to:

Overseas Private Investment Corporation 

Information Officer, Office of External Affairs

1100 New York Avenue, N.W.

Washington, D.C. 20527

Telephone inquiries

202-336-8799

Email: info@opic.gov

www.opic.gov/smallbusiness/
www.opic.gov 45

U.S. Government International Trade Information

The U.S. government has established a comprehensive source — the Trade 

Information Center (TIC) — for information on federal export assistance 

programs. Housed at the U.S. Department of Commerce, the TIC provides 

information on:

• Export Questions

• Country Information

• Export Program Guide

• Tax and Tariff Information

• Export Resources

• Trade Office

• Trade Events

• Industry Information

The TIC’s international trade specialists can be reached weekdays from 

8:30 a.m. to 6:00 p.m. Eastern Standard Time at:

• Phone: 1-800-USA-TRADE (1-800-872-8723)

• Internet: www.export.gov

• Email: tic@ita.doc.gov
46 OPIC Handbook

Notes
www.opic.gov 47
48 OPIC Handbook

Notes

1100 New York Ave., N.W.

Washington, D.C. 20527

202.336.8799

www.opic.gov

An Agency of the United States Government