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Overseas Private Investment Corporation - Wikipedia, the free encyclopedia (160 words) |
 | The Overseas Private Investment Corporation (OPIC) is an agency of the U.S. government established in 1971 that helps U.S. businesses invest overseas and promotes economic development in new and emerging markets. |
| OPIC's mission is to "foster economic development in new and emerging markets, support U.S. foreign policy and create U.S. jobs by helping U.S. businesses to invest overseas." The agency provides financing through direct loans and loan guaranties. |
| Ross J. Connelly is the Executive Vice President and Chief Operating Officer of OPIC. |
| SEEN (2513 words) |
| Since OPIC is increasingly focusing its efforts on the electric power and fossil fuel sectors, it is imperative that the organization include rigorous and detailed proposals for such evaluation of the entire sector, specifically with regard to the overall climate change impacts of OPIC activities. |
| OPIC environmental guidelines should attempt to account for the indirect and qualitative effects of projects on the energy sectors of developing countries, recognizing that large power plant and fossil fuel development projects often divert disproportionate amounts of development capital, thereby often functionally locking-in developing energy sectors into certain structural patterns and fuel mix requirements. |
| All OPIC projects should include a cumulative and an annual emission estimate which should be evaluated in relation to annual greenhouse gas emissions in the latest reference year, and in relation to anticipated global emissions, and their relative global environmental impact determined accordingly. |
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