2014 OPIC ANNUAL REPORT 4

For more than 40 years, these three core principles 

have directed OPIC’s work in emerging markets: 

INVESTING IN PEACE THROUGH DEVELOPMENT:

As the U.S. Government’s development finance 

institution, OPIC mobilizes private capital to help 

solve critical development challenges, and in 

doing so, advances U.S. foreign policy and national 

security objectives. 

OPIC HELPS POSITION U.S. COMPANIES FOR 

SUCCESS: Because OPIC works with the U.S. 

private sector, it helps U.S. businesses gain 

footholds in emerging markets, catalyzing 

revenues, jobs and growth opportunities both 

at home and abroad. 

2014 COMMITMENTS

TOTAL: $2.96 BILLION

FINANCING: $2.58 BILLION 

 FUNDS: $316.5 MILLION*

INSURANCE: $379.7 MILLION

* Funds commitments included in financing total

GROWING SUPPORT FOR 

RENEWABLE ENERGY

OPIC COMMITTED A RECORD 

$1.22 BILLION TO PROJECTS 

EXPECTED TO PRODUCE 

1,028 MEGAWATTS 

OF CLEAN ENERGY

OPIC MAINTAINS A CURRENT 

TOTAL PORTFOLIO OF 

$18 BILLION

SUPPORT FOR AMERICAN 

SMALL BUSINESS

OVER THE PAST FIVE YEARS ALMOST 75% 

OF THE PROJECTS OPIC SUPPORTED 

HAVE INVOLVED A U.S. SMALL OR 

MEDIUM SIZED BUSINESS

LAST YEAR, OPIC HOSTED FIVE

EXPANDING HORIZONS WORKSHOPS TO 

HELP SMALL BUSINESSES EXPAND INTO 

EMERGING MARKETS

SUPPORTING BUSINESS AS A FORCE 

FOR GOOD IN THE WORLD


OPIC’S FAR REACHING IMPACT

Jordan; a geothermal power plant in Kenya that is 

helping that country develop a cleaner fuel source; 

an açaí-berry processing facility in the Brazilian 

rainforest that is generating income for 10,000 

farmers; and hundreds of other projects that are 

having a positive impact in the world’s developing 

countries. All the projects that OPIC supports 

were selected because of their potential to make a 

positive difference.

INVESTING IN DEVELOPMENT IMPROVES LIVES.

OPIC supports projects that create power plants 

and water treatment facilities, increase access to 

food and healthcare, introduce cleaner sources 

of energy and help address poverty by building 

affordable housing and establishing loan facilities 

to support entrepreneurs and small businesses. 

OPIC’s active portfolio of projects today includes a 

200-mile pipeline that provides water to Amman,

OVER ITS HISTORY, 

OPIC HAS MOBILIZED APPROXIMATELY 

$2.46 IN PRIVATE SECTOR INVESTMENT 

FOR EACH $1 IN COMMITMENTS

 NEW PROJECTS OPIC SUPPORTED 

ARE PROJECTED TO:

ADD 1,028 

MEGAWATTS

OF RENEWABLE ENERGY

AVOID 1.9M TONS 

IN CO2 EMISSIONS

(THE EQUIVALENT OF REMOVING 400,000 

PASSENGER VEHICLES FROM THE ROAD)

SUPPORT MORE THAN

9,000 LOCAL JOBS

GENERATE $144 MILLION 

IN HOST COUNTRY TAX REVENUE

LEAD TO $5.5 BILLION 

IN LOCAL PROCUREMENT 

OF GOODS AND SERVICES
While every project tells a unique story of advancing 

development, from Honduras to Afghanistan, India 

and Rwanda, there are some common themes 

across our $18 billion portfolio. 

OPIC SUPPORTS PROJECTS THAT WILL ADVANCE 

THE ADOPTION OF RENEWABLE RESOURCES. 

Renewable energy has been an OPIC priority for 

several years [See renewable energy, p. 13) and 

in 2014, the new projects OPIC supported are 

projected to add 1,028 megawatts of renewable 

energy and avoid 1. 9 million tons of CO2 emissions. 

That's the equivalent of removing 400,000 cars from 

our roads each year. 

OPIC HELPS LEVERAGE ADDITIONAL PRIVATE 

SECTOR INVESTMENT. 

By providing loans, guaranties and political risk 

insurance to private businesses, OPIC helps 

catalyze additional private investment in some 

of the world·s most challenging markets. 

OPIC INVESTS IN SOME OF THE WORLD'S 

POOREST AND MOST FRAGILE ECONOMIES. 

Almost a third of the projects OPIC supported were 

in low income countries including: 

Malawi, where an OPIC supported private equity 

fund invested in a business that is providing 

equipment to small farmers. 

Afghanistan, where OPIC financing is-• 

In addition to OPIC-s work in low income countries, 

OPIC supports many other projects that reach lowincome communities in higher-income countries. 

OPIC SUPPORTS PROJECTS THAT CREATE JOBS. 

One of the major benefits of OPIC's work is job 

creation in host countries. Jobs create opportunity 

and contribute to economic growth and stability. 

The projects OPIC committed in 2014 are projected 

to support more than 9,000 jobs. Thafs the 

equivalent of almost 40 jobs per OPIC employee. 

OPIC APPLIES HIGH LABOR AND HUMAN RIGHTS 

STANDARDS TO THE PROJECTS IT SUPPORTS. 

All of the projects OPIC supported in 2014 were 

reviewed to ensure compliance with internationally 

recognized standards on worker rights and human 

rights. 

HOW OPIC SUPPORTS 

U.S. SMALL BUSINESSES 

AND AMERICAN JOBS 

While OPIC's mission is to support development in emerging markets, this work also 

benefits the American economy. Since 1978. 

OPIC supported projects have supported 

almost 278,000 American jobs, lead to the 

procurement of U.S. goods and services and 

helped open new markets. In 2014. some of 

the OPIC projects that were the strongest 

contributors to the American economy were 

renewable energy projects 

➔ An OPIC-supported solar power project in

Chile will establish one of the largest solar

power plants in that country, while also

supporting an estimated 120 jobs in the U.S.

➔ A wind power project in Mexico will increase

that country·s supply of renewable energy

by 148.5 megawatts, and also support an 

estimated 104 U.S. jobs.

➔ OPIC's support for a concentrated solar

power project in Israel's Negev will help

introduce an innovative renewable energy

technology in one of the poorer parts of the

country, while also supporting an estimated

55 U.S. jobs.

• Information has been Redacted in acrordance with the two principled exceptions of the Foreign Aid Transparency and Acrountability Act (FA TAA) 

of 2016; including the health and security of implementing partners, as welt as national interest of the United States. 

2014 OPIC ANNUAL REPORT 0 

























2014 OPIC ANNUAL REPORT 34

OUR 2014 INVESTMENTS

US SPONSOR/

PROJECT NAME INSURED INVESTOR PROJECT DESCRIPTION AMOUNT NOTE

AFRICA AND THE MIDDLE EAST

ANGOLA

Centro De Servicos Cure International  A polyclinic outpatient center in Luanda, Angola 9,800,000 Finance

Internacionais De Saude,

GHANA

CAL Bank Citibank N.A.  Expansion of SME lending portfolio 30,000,000 Finance

ISRAEL

Negev Energy Abengoa Solar LLC Development of a concentrated solar power project 250,000,000 Finance

JORDAN

SunEdison Jordan Sun Edison Inc. 24MW Solar PV Project in Ma’an Development Zone 25,000,000 Finance

KENYA

Lake Turkana Wind Power Eligible U.S. Investor 300 MW wind power project 46,000,000 Insurance

Limited

LEBANON

International Rescue   International Rescue Humanitarian activities and services  73,313 Insurance

Committee Committee

MOROCCO

Tebagas Holdings, BV Reiter Affiliated Companies  Support for agricultural projects 21,000,000 Finance

Attijariwafa Bank (“ATW”) Citibank N.A.  Expansion of SME lending portfolio  30,000,000 Finance

NIGERIA

First City Monument Bank Citibank N.A.  Expansion of SME lending portfolio 75,000,000 Finance

and infrastructure portfolio

Azura-Edo Power Project - American Capital Energy  450 MW (Phase 1) gas-fired power plant 23,407,359 Finance

Junior Loan and Infrastructure in Edo State, Nigeria

Azura-Edo Power Project- American Capital Energy  450 MW (Phase 1) gas-fired power plant 35,000,000 Finance

Senior Loan and Infrastructure in Edo State, Nigeria

SENEGAL

Aventura Investment Aventura Investment Support for firms providing 3,000,000 Finance

Partners LLC Partners LLC cold storage and harvesting services. 

SOUTH AFRICA

FirstRand Bank Wells Fargo  Expansion of SME lending portfolio 50,000,000 Finance

Firefly Investments 230 (Rf) Sun Edison Inc. 60 MW solar PV project 34,000,000 Insurance

Proprietary Limited

WEST BANK

Baladi Mall Farid Jaber Construction and operation of mixed use retail, 600,000 Finance

office, and apartments

YEMEN

International Rescue   International Rescue Humanitarian activities and services  318,939 Insurance

Committee Committee

ZAMBIA

WBC-African Banking Financial Services  Expansion of SME lending portfolio 7,312,500 Finance

Corporation Zambia Ltd. Volunteer Corps

Access Africa Fund MicroVest  Microfinance investment vehicle for loans in Africa  1,000,000 Insurance

THIS LIST REPRESENTS PROJECTS TO WHICH OPIC COMMITTED IN FISCAL YEAR 2014.

* Project includes approximately $8.4 million in capitalized interest.
*

* Information has been Redacted in accordance with the two principled exceptions of the Foreign Aid Transparency and Accountability Act (FATAA) of 2016; 

including the health and security of implementing partners, as well as national interest of the United States.
2014 OPIC ANNUAL REPORT 36

US SPONSOR/

PROJECT NAME INSURED INVESTOR PROJECT DESCRIPTION AMOUNT NOTE

EUROPE AND EURASIA

ARMENIA

ACBA Credit Agricole Citibank N.A.  Expansion of microfinance portfolio  3,500,000 Finance

Bank CJSC

AZERBAIJAN

WBC-Turanbank II Financial Services Provide expansion capital to facilitate 6,825,000 Finance

Volunteer Corps TuranBank’s SME lending

GEORGIA

SEAF-Food Service Ltd. SEAF SME Debt Facility, LLC Expansion of microfinance portfolio  3,000,000 Finance

Bank of Georgia Citibank N.A.  Expansion of microfinance portfolio  7,000,000 Finance

Sante GMT 4 E. & K. Studivant, Expansion of dairy product processing facility 3,000,000 Finance

J.T. Jerome, J. Carmody, 

J. Baruffi

KAZAKHSTAN

AIC-Invest Citibank N.A.  Expansion of seasonal working capital financing 45,000,000 Finance

for small grain farmers

KYRGYZSTAN

American University of Open Society Foundations  Design and construction of environmentally 3,000,000 Finance

Central Asia (Tranche I) sustainable campus building

American University of Open Society Foundations  Design and construction of environmentally 3,000,000 Finance

Central Asia (Tranche II) sustainable campus building

MOLDOVA

WBC-ICS Prime Capital SRL NCH Property Expansion of residential mortgage lending 6,825,000 Finance

Associates LLC business and SME lending

RUSSIA

NF Rus Ltd. NF Rus Ltd.  Development and operation of  3,450,000 Finance

Nathans Famous hotdog franchise

TAJIKISTAN

“Finca” MDO LLC MicroVest  Investment fund loans to an MFI for microfinance 1,000,000 Insurance

 on-lending

TURKEY

TSKB Citibank N.A.  Expansion of SME lending portfolio 30,000,000 Finance

TIB Diversified Payment Wells Fargo  Expansion of SME lending portfolio 220,000,000 Finance

Rights Finance Company

International Rescue International Rescue   Humanitarian activities and services  114,190 Insurance

Committee Committee

EUROPE REGIONAL

Accession Mezzanine Mezzanine Capital Investment fund targeting SMEs in Central 60,000,000 Investment

Capital III, L.P. Partners Limited and Eastern Europe Fund

Citibank blanket policy Citibank N.A.  Banking services  150,000,000 Insurance
37

US SPONSOR/

PROJECT NAME INSURED INVESTOR PROJECT DESCRIPTION AMOUNT NOTE

LATIN AMERICA AND THE CARIBBEAN

ARUBA

CSI Leasing ABC Islands CSI Latina Financial, Inc.  Lease financing of solar energy 10,000,000 Finance

efficiency improvements

BRAZIL

Brazilieros Venture, LLC Wells Fargo Financing for a granite finishing line 4,500,000 Finance

The Fifties Laço Management Ltda.  Expansion of a leading casual dining restaurant group 19,800,000 Finance

CHILE

Generacion Solar SpA Sun Edison Inc. Construction and operation of 72.8 MWp solar plant 48,900,000 Finance

Parque Solar Fotovoltaico First Solar  Construction of a 141 MW solar project 230,000,000 Finance

Luz Del Norte, SpA

COLOMBIA

Avantel S.A.S. Discovery Capital  Installation of wireless and fiber broadband 140,000,000 Finance

telecommunications network

Los Molinos LAREIF Run-of-river hydroelectric project 50,000,000 Finance

COSTA RICA

WBC-Kineret S.A. The Alta Group, Llc  Expansion of leasing portfolio to SMEs 7,312,500 Finance

WBC-Banco Improsa The Alta Group, Llc  Provide SME financing to investment projects  9,750,000 Finance

in Costa Rica

ECUADOR

Banco Procredit Ecuador MicroVest  Investment fund loans to an MFI for 2,410,120 Insurance

microfinance on-lending

Fundación Para El MicroVest  Investment fund loans to an MFI for 2,000,000 Insurance

Desarrollo Integral Espoir microfinance on-lending

Banco Solidario S.A. MicroVest  Investment fund loans to an MFI for 983,220 Insurance

microfinance on-lending

GUATEMALA

Fundacion Genesis Citibank N.A.  Expansion of microfinance loan portfolio  2,333,100 Finance

Empresarial

HONDURAS

Grupo Jaremar Citibank N.A.  Expand production capacity of palm oil plantations 20,571,429 Finance

JAMAICA

Jamaica Public Service Citibank N.A.  Support for transmission distribution segment 22,500,000 Finance

Company Ltd.

Blue Mountain Renewables Blue Mountain 34 MW wind power project 43,000,000 Finance

Wind Power Project Renewables, LLC

WRB Enterprises Jamaica WRB Enterprises Inc. Bid bond for solar project 585,072 Insurance

MEXICO

WBC-Servicios Y Case New Holland Global  Expansion lending to the agribusiness sector 4,875,000 Finance

Financiamiento Agricola S.A. 

De C.V.Sofom E.N.R.

Tres Mesas Oak Creek Energy  Construction of 150MW wind farm 90,000,000 Finance

Tres Mesas - 2 Oak Creek Energy  Second phase of the Tres Mesas wind project 160,000,000 Finance

Vivalia Principal Plus Group, LLC  Expansion of an existing micro-consumer 5,000,000 Finance

finance program
2014 OPIC ANNUAL REPORT 38

US SPONSOR/

PROJECT NAME INSURED INVESTOR PROJECT DESCRIPTION AMOUNT NOTE

NICARAGUA

Credifactor, S.A. MicroVest  Investment fund loan to an MFI for 1,250,000 Insurance

microfinance on-lending

PANAMA

La Hipotecaria Panamanian  La Hipotecaria Panamanian Support for low-income mortgages 56,250,000 Finance

Mortgage Trust 2014-1 Mortgage Trust 2014-1

PERU

Moquegua FV S.A.C. Antonio Galindez /   19MW solar plant 41,500,000 Finance

Solarpack

ALL OPIC COUNTRIES

LCF SPV Microvest  Expansion of microfinance portfolio  48,000,000 Finance
39

INVESTMENT FUND 

PORTFOLIO ACTIVITIES 2014

FCP Fund National Bank of Iraq Banking Iraq

Shamsuna Power Renewable Energy (solar) Jordan

Sarona Frontier Markets Fund 2 APF II India Holdings Pvt Ltd Diversified SME Fund India

DGF FIPAC 2 FIP Private equity fund focusing Brazil

on ICT and professional services

Fons Mediterrania Capital FCR SME fund Morocco, Tunisia, Algeria

Mediterrania Capital II (SICAV) PLC Generalist private equity fund Morocco, Tunisia, Algeria

Pera Capital Fund I, L.P. Generalist private equity fund Turkey

Accession Mezannine Amethyst Group Healthcare Romania, Poland

Capital III L.P. Aasa Polska Consumer finance Poland

Bella Bulgaria Food Processing Bulgaria

BioVendor Group Meical Equipment Czech Republic

Dominium Pizza Restaurant Poland

Invia Group E-commerce/Travel Czech Republic

Telelink ICT Bulgaria

Asia Development Koi Capital Holdings Non-Banking Finance Asia Regional

Partners III, L.P. Company

AAF Agri Trekta (FES) Agricultural equipment and Malawi

contract farming

Boisson d’Afrique (CBC) Beverage (mineral water Cote d’Ivoire

and juice)

Goldtree Holdings (GT) Palm Oil Sierra Leone

Paladin Realty Latin America GVP Participaciones SRL Housing Costa Rica

Investors III, L.P Tucan Inversiones II SRL Housing/Office Condo Peru

Vivienda PC Sociedad Comercial de Housing Peru

Responsabilidad Limitada

CAPIC SPV L.P. Agora Mall Ltd Mixed use retail shopping Nigeria

mall and hotel development

APD Ltd Commerical office development Nigeria

Centre City Hospitality Ltd Hotel property development Nigeria

Growth Land Limited Retail property development Nigeria

UPDC Metro City Ltd Residential real estate Nigeria

 development

Siraj Palestine Fund I CallU Healthcare Palestine

Nakheel Palestine for Agricultural Investment Agriculture Palestine

Palestinian Company for Hospitality Services Hospitality Palestine

PalGaz for Distribution and Services, Ltd. Services Palestine

PalLease Services Palestine

Wassel Group Services Palestine

WebTeb Healthcare Palestine

Ziadah Consultant Architects & Engineers Services Palestine

FUND NAME PORTFOLIO COMPANY DESCRIPTION COUNTRY/REGION


2014 OPIC ANNUAL REPORT 42

NOTES
43

NOTES
2014 OPIC ANNUAL REPORT 44

NOTES