December 2, 2019
WASHINGTON – Adam Boehler, Chief Executive Officer of the new U.S. International Development Finance Corporation (DFC), issued the following statement today on the announced departure of David Bohigian, Executive Vice President and former Acting President and CEO of the Overseas Private Investment Corporation (OPIC):
“David Bohigian’s tenure at OPIC has fundamentally advanced the agency. He provided strong leadership throughout the legislative process that resulted in the passage of the BUILD Act and set the stage for transformation to DFC. An effective and enthusiastic ambassador, David engaged lawmakers and partners around the world about OPIC’s work. David’s gift for communication helped to draw a succinct and stark contrast between the U.S. approach to development and the authoritarian state-led model.
“David ensured that development—the very core of OPIC’s mandate—remained at the forefront of the agency’s focus. Indeed, the culmination of his work at the agency led to the launch of Blue Dot Network, a multilateral approach committed to promoting the highest standards in development, which is certain to have a positive legacy around the world.
“As public servants, our aim is to leave a positive and lasting impact on the agencies we serve. David’s mark on OPIC has undoubtedly done that.”
The Overseas Private Investment Corporation (OPIC) is a self-sustaining U.S. Government agency that helps American businesses invest in emerging markets. Established in 1971, OPIC provides businesses with the tools to manage the risks associated with foreign direct investment, fosters economic development in emerging market countries, and advances U.S. foreign policy and national security priorities. OPIC helps American businesses gain footholds in new markets, catalyzes new revenues and contributes to jobs and growth opportunities both at home and abroad. OPIC fulfills its mission by providing businesses with financing, political risk insurance, advocacy and by partnering with private equity fund managers.
OPIC services are available to new and expanding businesses planning to invest in more than 160 countries worldwide. Because OPIC charges market-based fees for its products, it operates on a self-sustaining basis at no net cost to taxpayers. All OPIC projects must adhere to best international practices and cannot cause job loss in the United States.