Islamabad, July 13, 2013 (PPI-OT): US Overseas Private Investment Corporation (OPIC) President and CEO Elizabeth L. Littlefield is visiting Pakistan this week to meet with business leaders and government officials, and with U.S. companies investing in Pakistan. The OPIC delegation will also tour one of its investment projects, the Aga Khan Hospital and Medical Foundation in Karachi, which is known for its work on social welfare in Pakistan.
“The United States is committed to strengthening Pakistan’s economy, and with it, the prosperity of its citizens,” said Littlefield. “OPIC has a long history of supporting U.S. private-sector investment in Pakistan, and we look forward to seeing firsthand how the projects we support are building on past progress and paving the way toward a more prosperous future.”
Littlefield will meet with key business leaders and government officials to learn more about Pakistan’s investment climate and new opportunities for U.S. investors to partner with Pakistani businesses. Recognizing how critical the energy sector is to Pakistan’s long-term economic growth, OPIC will pay close attention to how it can best support investors willing to address this challenge.
“As the U.S. government’s development finance institution, OPIC plays an important role in catalyzing private investment in Pakistan,” said U.S. Ambassador Richard Olson. “OPIC President Littlefield’s visit builds on the successful U.S.-Pakistan Business Opportunities Conference held Dubai last month, and clearly demonstrates that trade and investment are the future of the U.S.-Pakistan relationship.”
The OPIC delegation will visit the Aga Khan Hospital and Medical Foundation in Karachi, which is being renovated and expanded with the support of an OPIC loan. “The success of this project and many others that OPIC has financed in Pakistan show how private capital can be a force for good, supporting business and advancing development to improve the lives of ordinary citizens,” Littlefield said.
“We look for disciplined, like-minded partners who have local market knowledge, a commitment to sound and transparent business practices, and achievable goals to improve the lives of the Pakistani people,” she added.
OPIC has invested in 123 projects in Pakistan since its formation in 1971. Its current Pakistan portfolio includes 14 active projects worth nearly $300 million in key industries including energy, health care, financial services for small- and medium-sized enterprises, and telecommunications.
OPIC is the U.S. government’s development finance institution. It mobilizes private capital to help solve critical development challenges, providing investors with financing, guarantees, political risk insurance, and support for private-equity investment funds. Established in 1971, OPIC operates on a self-sustaining basis at no net cost to American taxpayers. OPIC services are available for new and expanding businesses in more than 150 countries worldwide. To date, OPIC has supported more than $200 billion of investment in over 4,000 projects. Visit www.opic.gov for more information.
For more information, contact:
Information Office Public Affairs Section
Embassy of the United States of America
U.S. Embassy, Islamabad- Pakistan
Cell: +92300 501 2640
Tel: +9251-208 0000
Fax: +9251-227 8607