History: OPIC and the first investment incentive agreement

Pieces of history in the PDF published here [Save Target As…] – this is the Investment Incentive Agreement between the Government of the United States and the Government of Romania and it marks the presence of OPIC (Overseas Private Investment Corporation) in Romania – 06-30-1992.

OPIC is an independent U.S. government agency whose mission is to mobilize and facilitate the participation of U. S. private capital and skills in the economic and social development of less developed countries and areas, and countries in transition from nonmarket to market economies.

OPIC assists U.S. companies by providing financing (from large structured finance to small business loans), political risk insurance, and investment funds. OPIC complements the private sector in managing risks associated with foreign direct investment and supports U.S. foreign policy.

The primary investment focus in Romania consists of equity investments in consumer products, financial services, and real estate, activities directed by New Century Capital Partners, L.P. In the last years they also focused on new media – during the last election campaign, they supported Traian Basescu who indeed was elected president.

The last OPIC Strategic Plan is for 2003-2008, and new chapter will be written in 2007 as Romania entered the EU on the 1st of Janurary. They already started to sell 🙂

LATER EDIT – Related links: Orlando, Business Standard, ZF

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