What Does Overseas Private Investment Corporation Mean?
The Overseas Private Investment Corporation (OPIC) is a U.S. agency that supports American businesses in other countries through loans and insurance. Apart from promoting financial success for private enterprise, it also aims to foster U.S. foreign policy and national security in those countries.
Insuranceopedia Explains Overseas Private Investment Corporation
Although it is a government agency with headquarters in Washington, DC and established in 1971, the OPIC is self-sustaining. It is not funded by taxes but by the money it generates from its own operations.
The OPIC primarily finances American-owned business abroad through loans. They also provide insurance, such as coverage for political risk. An example for that coverage is providing insurance money when a business abroad goes bankrupt because of a politically-induced event like war.