OPIC Announces Inaugural Impact Award Winners
March 11, 2014
(OPIC)
WASHINGTON, D.C. – The Overseas Private Investment Corporation presented awards
for excellence in development finance in a ceremony held today at the U.S.
Chamber of Commerce. These “Impact Awards” were an inaugural event for OPIC, the
U.S. Government’s Development Finance Institution.
The Agency presented eight awards across six categories to winners selected from
an exceptional group of recent clients that have worked with OPIC to advance
development impact in emerging economies.
The 2014 OPIC Impact Award Recipients:
Renewable Resources: SunEdison, LLC, for a 60-megawatt solar power
plant in South Africa being built with the support of OPIC financing. This
project advances South Africa’s ambitious renewable energy program, while
helping to meet growing power demand in an undeveloped part of the
country.
Critical Infrastructure: ContourGlobal Togo, LLC, for a 100-megawatt
thermal power plant outside of Togo’s capital city Lomé, built with the support
of OPIC financing and political risk insurance. The power plant has brought a
reliable source of electricity to a country that has one of the lowest rates of
per capita energy consumption in the world.
Access to Finance: (3-way tie)
Global Partnerships, for Social Investment Fund 5.0, for which OPIC
provided financing. This fund will support lending in poor communities in Latin
America with a focus in four key areas: health services, rural livelihoods,
green technology and micro-entrepreneurship.
Inter-Mac International, Inc., for Los Castaños de Choloma housing
community in Honduras, which provides low-income families safe and affordable
homes, built with the support of OPIC long-term financing in a region of
Honduras with a scarcity of permanent housing.
The Medical Credit Fund, for work in Africa to provide financing and
technical assistance to many small and medium healthcare providers that are a
staple of healthcare for low and middle-income Africans.
Development Impact: International Rescue Committee, for providing a
broad spectrum of services including health care, improved living conditions and
social services, such as prevention of genderbased violence. OPIC provides
insurance coverage for IRC’s operations in more than 20 nations.
Private Equity: Helios Investment Partners, LLP, one of the largest
investment firms focusing exclusively on Africa. It is among the few
independent, pan-African private equity investment firms to be founded and
managed by Africans. OPIC has provided financing to a number of Helios funds
since 2004.
American Small Business: Ellicott Dredges, LLC, a manufacturer of
dredging equipment with clients in more than 100 nations, including Iraq, where
the government used Ellicott equipment for vital reconstruction projects. OPIC
provides political risk insurance to Ellicott, whose work overseas helped create
additional jobs at Ellicott facilities in Maryland and Wisconsin.
“OPIC’s development finance model depends on partnerships with businesses that
have big visions, experience in challenging markets, and a commitment to see
their work through to outcomes that are successful from both a business and a
development standpoint,” said Elizabeth Littlefield, OPIC’s President and CEO,
in remarks to the audience of senior government officials, private-sector
supporters and the private investors recognized during the evening. “OPIC
clients are having a profound impact on peoples’ lives that is tangible,
enduring and inspiring. We want to spotlight that.”
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