Friday, November 04, 2005

Finance: US Overseas Private Investment Corporation aids African micro finance

The Ghana News Agency has reported that US Overseas Private Investment Corporation (OPIC) and Citigroup Financial Services Company are to provide $30 million US dollars to finance micro finance lending in 19 countries including Ghana.

Other beneficiaries include Angola, the Democratic Republic of the Congo and Mozambique.

The Overseas Private Investment Corporation, was established as a development 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 the risks associated with foreign direct investment, and supports U.S. foreign policy.