OPIC Board of Directors Strengthens Commitment to Lasting African Development
September 19, 2014
(OPIC)
WASHINGTON – The Board of Directors of the
Overseas Private Investment Corporation (OPIC),
the U.S. Government’s Development Finance
Institution, has approved support to an
investment fund focused on promoting economic
growth in Africa.
OPIC’s board approved a $100 million commitment
to Emerging Capital Partners’ (ECP) Africa Fund
IV. This fund, selected from OPIC’s second
global engagement call for proposals, is
intended to provide expansion capital to
high-growth companies throughout Africa.
Support to private equity is a cornerstone of
OPIC’s development strategy, and the agency is
one of the largest private equity fund sponsors
in developing nations. “OPIC is a
forward-thinking agency focused on supporting
projects in the developing world and working to
ensure that our development impact endures. At
a time when a growing share of our portfolio is
focused on Sub-Saharan Africa, our support to
the ECP Africa Fund IV will help foster the
expansion of businesses that are so critical to
local job creation and sustained African
economic growth,” said Elizabeth Littlefield,
OPIC’s President and CEO.
During the quarterly meeting, OPIC’s board also
approved Mildred Callear as OPIC’s Vice
President for Financial and Portfolio
Management. Ms. Callear will oversee efforts to
maintain and ensure the progress of OPIC’s
active worldwide portfolio.
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