U.S. Government agency to finance private projects in Guatemala

By Mayora IP

The Overseas Private Investment Corporation (OPIC), a self-sustaining U.S. Government agency that helps American businesses invest in emerging markets, announced the availability of resources for various private projects to be developed in the countries of the Northern Triangle of Central America, the name by which Guatemala, Honduras and El Salvador are known for their economic integration.

Ryan Brennan, vice president of OPIC, stated during a media meeting that the agency prepares for Guatemala a portfolio of USD 400 million to grant mortgages, retail loans and financing to banking institutions for investment projects. Brennan highlighted that the fight against corruption that prevails in Guatemala since 2015 has generated confidence in OPIC. To receive capital, interested parties must comply with international standards established by multilateral organizations like the World Bank. "The impact of their projects must be demonstrated for example by promoting respect for labor and women rights", explained Brennan. 

OPIC works with interest rates similar to those found in the financial market, positioning therefore as another option for businesses. Established in 1971, it 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.