The benefits of the BUILD Act


28th November 2018

Interview with Ray W. Washburne, President and CEO of the Overseas Private Investment Corporation (OPIC)
The U.S. government recently passed the Better Utilization of Investment Leading to Development (BUILD) Act, which creates a a new agency to lend to developing countries.
In this interview, Ray W. Washburne, President and CEO of the Overseas Private Investment Corporation (OPIC) talks about the benefits of the BUILD Act and how it opens up new opportunities for investment.
How will the recently passed BUILD Act improve OPIC’s operations?
With the BUILD Act’s passing, we have a lot more tools to go out with. Sometimes agencies are very active in marketing themselves, and sometimes they’re not. We’re very outwardly focused on letting people know what OPIC is. With our new authorization, we have a lot more capital to deploy, and so we need people to know we exist so that we can do more projects.
Among some of the improvements, the new deployment will allow OPIC to invest equity in some projects, is that right?
Yes, we’ll be able to invest equity in the projects. In the past, we’ve been purely like a bank and debt product. By having equity, that’s going to open up to a lot more projects and work with a lot of other institutions like ourselves from other countries that we haven’t been able to do business with in the past, because we were purely debt and they were equity, and they wanted to be on equal terms with us.
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