TO: MEMBERS: U.S.-UKRAINE BUSINESS COUNCIL (USUBC)
FROM: USUBC Washington, D.C. Office
RE: "FLUENT IN OPIC" WORKSHOP & RECEPTION
WEDNESDAY, JANUARY 20th, 2010, SAVE THE DATE!
How to structure & obtain OPIC financing & insurance for deals in Ukraine
Workshop 2:30 to 5:30 p.m. & Celebration Reception 6:00 to 8:00 p.m.
Location: Embassy of Ukraine to the USA, Washington, D.C.
The Overseas Private Investment Corporation (OPIC), Washington, D.C., is now open for business in Ukraine for the first time in many years. This very important announcement was made by OPIC and the U.S. Embassy in Kyiv on Thursday, December 14th. 2009 (see OPIC news release below). Working to get OPIC open for business in Ukraine has been one of the top priorities for the members of USUBC for several years.
In honor of OPIC being open for business in Ukraine the U.S.-Ukraine Business Council (USUBC), Washington, D.C. and the Broad Street Capital Group (creators of the "Fluent in Foreign" book and workshop series), New York, NY, in cooperation with OPIC, the Embassy of Ukraine to the USA and the U.S. Commercial Service, with support from Marks Sokolov & Burd, SigmaBleyzer and other sponsors, is holding a "FLUENT IN OPIC" workshop on Wednesday, January 20th, 2010, in Washington, D.C., followed by a CELEBRATION RECEPTION.
The "FLUENT IN OPIC" workshop will be held from 2:30 to 5:30 p.m. on Wednesday, January 20, 2010, followed by the CELEBRATION RECEPTION from 6:00 p.m. to 8 p.m. Both events will be held at the Embassy of Ukraine to the USA, 3350 M Street, N.W., Washington, D.C..
HOW TO OBTAIN OPIC FINANCING AND/OR INSURANCE
The "FLUENT IN OPIC" workshop will present a comprehensive "beyond the website" very practical, hands-on, look on how to effectively utilize OPIC to finance and/or insure business transactions for Ukraine. The workshop will address the application process, deal structures, sponsor requirements and commitments, approval procedure, realistic time frame estimates, costs, fees and legal and developmental issues.
WORKSHOP INSTRUCTORS
Instructors at the workshop will include Alexander M. Gordin, Managing Director, Broad Street Capital Group (creators of the "Fluent in Foreign" book and workshop series"); Gerald Stoltz, Esq., Partner, Thompson Coburn, LLP; Gene Burd, Managing Director, Marks Sokolov & Burd; Steven Johnston, Senior Insurance Officer, OPIC; a senior OPIC officer in the project financing area and others to be announced. Morgan Williams, SigmaBleyzer, who serves as president of USUBC, will be the workshop moderator.
REGISTRATION
Participation in the "Fluent in OPIC" Workshop and Celebration Reception is complimentary for USUBC members. The "Fluent in OPIC" Workshop and Celebration Reception registration fee for business representatives who are non-USUBC members is $250.00. Registration are now being accepted. Registrations should be sent to USUBC@USUBC.org.
Additional information and an official invitation for the OPIC events on January 20th will be sent out shortly but you can register your participation now. If you have any questions please contact Iryna Teluk, USUBC membership director, at 240 505 9494, or e-mail iteluk@usubc.org.
"FLUENT IN OPIC" WORKSHOP & RECEPTION
WEDNESDAY, JANUARY 20th, SAVE THE DATE!
How to structure & obtain OPIC financing & insurance for deals in Ukraine
Workshop 2:30 to 5:30 p.m. & Celebration Reception 6:00 to 8:00 p.m.
Location: Embassy of Ukraine to the USA, Washington, D.C.
REGISTRATIONS ARE BEING ACCEPTED NOW
TO REGISTER CONTACT USUBC@USUBC.ORG.
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1. OPIC REOPENS PROGRAMS IN UKRAINE
Agreement paves way for millions in U.S. investment
Overseas Private Investment Corporation (OPIC)/U.S. Embassy in Ukraine
Washington, D.C., Kyiv, Ukraine, Thursday, December 17, 2009
WASHINGTON, D.C. – Paving the way for millions of dollars in potential U.S. private sector investment in the country, the Overseas Private Investment Corporation (OPIC) has restored its programs in Ukraine, following the signing on December 16 of an agreement resolving a dispute over an insurance claim paid by OPIC.
By virtue of the agreement, OPIC is now able to provide financing and political risk insurance to American companies investing in Ukraine. Previously, OPIC had provided more than $254 million in financing and insurance to 21 projects in Ukraine, in sectors ranging from manufacturing and construction to energy and financial services.
“OPIC is pleased to once again make available its support for U.S. investment in Ukraine, a development which we anticipate will send a highly positive signal to prospective investors in the country,” said OPIC Acting President Dr. Lawrence Spinelli.
“This historic occasion is indicative of Ukraine’s ongoing efforts to improve its investment climate, and we commend the Ukrainian government for its hard work in bringing about this result. We look forward to working with both U.S. and Ukrainian businesses to facilitate new levels of American investment in Ukraine.”
Vice President Joseph R. Biden also noted the significance of the agreement during a visit to Ukraine earlier this year. “I was pleased to learn that the government has taken the final decision necessary to bring the Overseas Private Investment Corporation back to Ukraine. That will make it easier for American companies to reinvest in Ukraine, and invest in the first place, which will help both our economies in the current downturn,” Mr. Biden said on July 21.
The signing of today’s agreement was the culmination of a series of steps leading to full restoration of OPIC programs in Ukraine, including the November 2008 conclusion of a memorandum of understanding between the two governments, and the July 2009 passage in the Ukrainian Cabinet of Ministers of a resolution facilitating settlement of the dispute.
The original dispute involved OPIC payment in 1999 of an insurance claim to the U.S. sponsor of a project in Ukraine. A prolonged inability to settle the dispute resulted in suspension of OPIC programs in the country.
OPIC was established as an agency of the U.S. government in 1971. It helps U.S. businesses invest overseas, fosters economic development in new and emerging markets, complements the private sector in managing risks associated with foreign direct investment, and supports U.S. foreign policy. Because OPIC charges market-based fees for its products, it operates on a self-sustaining basis at no net cost to taxpayers.
OPIC’s political risk insurance and financing help U.S. businesses of all sizes invest in more than 150 emerging markets and developing nations worldwide. Over the agency's 38-year history, OPIC has supported $188 billion worth of investments that have helped developing countries to generate over 830,000 host-country jobs. OPIC projects have also generated $72 billion in U.S. exports and supported more than 273,000 American jobs.
Visit OPIC on the web at www.opic.gov.
For further information, contact: Timothy Harwood (202) 336-8744
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2. OPENING OPIC IS GREAT VICTORY FOR U.S. AND UKRAINE
A top priority for USUBC members for many years
U.S.-Ukraine Business Council (USUBC), Washington, D.C., Thu, Dec 17, 2009
WASHINGTON, D.C. "The opening of the U.S. government's Overseas Private Investment Corporation's (OPIC) program for Ukraine is a great victory for Ukraine and the United States and will lead to a considerable increase in U.S. business investments in Ukraine," said Morgan Williams, head of the SigmaBleyzer government affairs office in Washington, who serves as President of the U.S.-Ukraine Business Council (USUBC).
"Getting OPIC open for business once again in Ukraine has been a top priority for the members of USUBC for many years" according to Williams. "USUBC has worked with the U.S. and Ukrainian governments on this issue especially in the last two years and received considerable assistance from former U.S. Ambassador to Ukraine, William Taylor, a member of the U.S. Embassy Economic Team, William Klein, the Prime Minister of Ukraine, Yulia Tymoshenko and Hrygoriy Nemyria, Deputy Prime Minister for European and International Integration of Ukraine."
DPM Hrygoriy Nemyria is in Washington, D.C. today for talks with the IMF and will make a presentation at noon at the annual meeting of the members of USUBC. "USUBC is so pleased that the person in the Ukrainian government who did so much to solve the OPIC issue will speak on this issue in Washington today. Former U.S. Ambassador William Taylor is in Iraq today so will not be able to celebrate this victory in person with DPM Nemyria," Williams said.
Additional speakers at the USUBC annual meeting will be: Christopher Smart, Deputy Assistant Secretary for Europe and Eurasia, U.S. Department of the Treasury; Dan Russell, Deputy Assistant Secretary, European and Eurasian Affairs, U.S. Department of State; Brian Sant Angelo, International Business Development, Europe & Central Asia, Export-Import Bank of the US and Dr. Anders Aslund, Senior Fellow, Peterson Institute.