US OPIC OFFICIAL VISITING GHANA TO ASSESS IMPACT OF INVESTMENTS

ACCRA, Two senior executives of the Overseas Private Investment Corporation (OPIC), the United States government agency which helps American businesses invest in developing markets around the world, are in Accra to assess the impact of its projects here as part of a three-country trip to West Africa.

David Bohigian, OPIC’s Executive Vice-President and Edward Burrier, the Vice-President for External Affairs will also visit Togo and Cameroon, with their team, according to a statement issued by the US Embassy here Monday.

The statement said OPIC was playing a significant role in Ghana’s economic development through the 1.3 billion US dollars of exposure to support a wide range of projects in the healthcare, housing, education, and energy sectors. The visit will enable the officials to see the results of some of these efforts, the statement.

With one-third of OPIC’s active portfolio (totalling 7.3 billion USD) now focused on the African continent, Ghana ranks number one on OPIC’s current country exposure list for Africa, representing more than 1.3 billion USD in various investment finance, political risk insurance, and investment fund support,” it added.

OPIC committed 400 million USD in financing and political risk insurance for the Amandi 200-megawatt (MW) combined cycle gas turbine power plant in Ghana’s Western Region (Province.

This US Power Africa-supported project was the only Power Africa Project to reach financial close in 2016, thanks to OPIC’s support. Over the years, OPIC has also supported Ghana’s healthcare sector through a 250 million USD project to rehabilitate medical clinics and hospitals throughout the nation, including Korle-Bu.

OPIC also provided 60 million USD in support to Ghana Home Loans to help make mortgages available to Ghanaian families seeking affordable housing. These are just a few of the projects OPIC has supported in Ghana in recent years.”

Source: NAM NEWS NETWORK

   

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