Established by Congress as an independent agency in 1971, OPIC strengthens American economic growth by supporting global investment, helps American businesses compete in emerging markets, and supports U.S. foreign policy and development initiatives. OPIC operates on a self-sustaining basis at no net cost to U.S. taxpayers because it accesses reasonable fees for its products and services. Since 1971, OPIC has helped create 237,000 new U.S. jobs and $58 billion in exports. OPIC helps America compete by insuring against the inability to convert local currencies into dollars, expropriation of assets by foreign governments, and political violence. OPIC also finances long-term, private investment through loan guaranties which work in partnership with commercial lenders. Direct loans are reserved for smaller U.S. businesses, and OPIC-guaranteed private equity funds act as a catalyst for private sector activity in developing countries by investing in new, expanding or privatizing companies.

OPIC in Central America

Last December 11 President Clinton announced that the United States was providing an additional $17 million in food aid, bringing the U.S.’s total relief assistance to $300 million. Since Hurricane Mitch hit Central America, OPIC has announced that it will work to spur private sector investment starting with an initiative to accelerate more than $200 million in new projects for the region.

OPIC in Louisiana

To date OPIC has provided $353 million in financing and insurance commitments for projects sponsored by Louisiana companies. These projects have generated more than $1 billion in U.S. exports and created 4,550 American jobs. In the last five years alone, OPIC-committed projects identified $208 million in goods and services that will be bought from Louisiana suppliers, 84% of which are small Louisiana businesses. These exports will create more than 650 local jobs in Louisiana. Louisiana businesses are currently seeking possible OPIC support for 10 future projects, representing a potential $397 million of investment.

About George Muñoz

George Muñoz has served as the President and Chief Executive Officer of OPIC since August, 1997. In that capacity, Mr. Muñoz is responsible for directing all of OPIC’s finance and insurance activities, including managing the agency’s worldwide business portfolio of more than $20 billion.

Prior to his OPIC appointment, Mr. Muñoz served as the U.S. Treasury Department’s Chief Financial Officer and Assistant Secretary for Management under Treasury Secretary Robert Rubin. He was directly responsible for much of the financial and internal management of the Department, including overseeing the formulation and expenditure of its $11 billion annual budget.

Mr. Muñoz came to Washington from Chicago. He is well known in the Chicago business and civic communities. Between 1980 and 1989 he was in the law firm of Mayer, Brown & Platt where, as a partner of that firm, he worked on international tax and business matters. Between 1989 and 1993 he managed his own law firm dedicated to international law and business with a focus on structuring foreign investments and commercial transactions.

Mr. Muñoz’ career includes extensive service on prominent boards, including three consecutive one-year terms as President of the Chicago Board of Education in the mid-1980s. He also served on the Boards of the Illinois International Port Authority, the Chicago Council on Foreign Relations, Chicago Catholic Charities, the Goodman Theatre, the Chicago Symphony, and as a Trustee of DePaul University.

Born in Brownsville, Texas in 1951, Mr. Muñoz holds a business degree from the University of Texas, a master’s degree in Public Policy from Harvard’s Kennedy School of Government, a law degree from Harvard, and a Master of Law in Taxation from DePaul University.

Sponsoring Organizations

CMI Consultants

F.C. Schaffer & Associates, Inc.

Hibernia National Bank

Koch and Rouse

Louisiana Department of Economic Development

MetroVision Economic Development Partnership

Petroleum Helicopters, Inc.

Port of New Orleans

Port of South Louisiana

Waldemar S. Nelson & Company, Inc.

Walk, Haydel & Associates, Inc.

World Trade Center of New Orleans

In Cooperation With