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OPIC Signs Agreement With Atradius to Advance Private Investment for Development

Tuesday, February 9, 2016

(OPIC)  WASHINGTON – The Overseas Private Investment Corporation (OPIC), the U.S. Government’s development finance institution, and Atradius Dutch State Business (Atradius DSB), the official export credit agency appointed and authorized by the Netherlands to promote overseas investments by Dutch companies through insurance programs, have announced an agreement that will enhance the ability of both institutions to support private investment in developing markets.

In late 2015 in Amsterdam, OPIC Vice President for Political Risk Insurance, John Moran, met in Amsterdam with Atradius DSB’s Managing Director Bert Bruning and its Head of International Relations, Vinco David, to sign a memorandum of understanding (MOU) between the two institutions. This MOU authorizes OPIC and Atradius DSB to cooperate in ways that will increase each institution’s respective capacity to insure private investors in the renewable energy, agribusiness, and water sectors in emerging markets.

This partnership underscores OPIC’s ability to support investment for positive development impact in support of U.S. foreign policy. Both OPIC and Atradius DSB will align efforts to coordinate and conduct outreach to investors, lenders, insurance brokers and other private and public political risk insurers. This agreement represents a notable step in cooperation between the U.S. and the Netherlands to advance sustainable development, greater resource efficiency and a cleaner and more secure low-carbon energy supply.

“There is tremendous synergy between OPIC and Atradius DSB,” said Moran. “OPIC’s fiscal year 2015 included the fifth consecutive year of $1 billion or more in support to renewable energy; and, following on the Paris Climate Agreement signed last December at the COP21 meeting, this sends strong market signals to businesses and the private sector that the world is moving to a clean energy economy. There is great potential for cooperation between Atradius and OPIC in support of these shared goals.”

Bert Bruning, Managing Director of Atradius Dutch State Business, emphasizes the importance of reaching out to other stakeholders in achieving the climate change goals. “The agreement with OPIC will help us to substantially strengthen our contribution towards sustainable economic growth and a better quality of life. For Atradius DSB, this is the first agreement it has signed with a public investment insurance agency.”