OPIC WORKSHOPS HELP BUSINESSES ACCESS PROGRAMS FOR UKRAINE
Sponsored by the U.S.-Ukraine Business Council (USUBC)
By Jim Davis, Ukraine Business Online (UBO), Kyiv, Ukraine, Wed, 10 Feb 2010
KYIV - After years of efforts finally brought success in reopening the services of the U.S. Overseas Private Investment Corporation (OPIC) for Ukraine, the U.S.-Ukraine Business Council (USUBC) began implementing a series of programs to better inform current and potential investors on best methods to access the wide range of OPIC programs.
As a part of the In honor of OPIC being open for business in Ukraine, USUBC, Broad Street Capital Group (creators of the "Fluent in Foreign" book and workshop series), New York, NY, in cooperation with OPIC, the Government of Ukraine, the U.S. Commercial Service, with support from Marks Sokolov & Burd, SigmaBleyzer, Chadbourne & Park and other sponsors, is holding three workshops with the title, “Fluent in OPIC.”
Today’s workshop drew a large audience of interested business men and women to the corporate headquarters of SigmaBleyzer in Kyiv’s Mandarin Plaza in Kyiv. SigmaBleyzer is a major contributor to USUBC and helped sponsored today’s event. A third workshop will be held in New York City on a date to be announced soon, most likely in March.
The first workshop was held in Washington, D.C. on Wednesday, January 20, with over 80 persons attending. Those who attended described the event as very professional, informative, and helpful. Ukraine's Ambassador to the United States Oleh Shamshur; the former U.S. Ambassador to Ukraine, William Taylor; and William Klein, former senior member of the Economic Team at the U.S. Embassy in Kyiv, who worked on the OPIC settlement, attended the reception along with several high level representatives of OPIC.
Both of the workshops have presented a comprehensive "beyond the website" practical, hands-on, look at how to effectively utilize OPIC to finance and/or insure business transactions for Ukraine. The workshops have addressed the application process, deal structures, sponsor requirements and commitments, approval procedure, realistic time frame estimates, costs, fees and legal and developmental issues.
OPIC has worldwide scope and offers unique opportunities for developing countries
OPIC’s mission is to mobilize and facilitate the participation of United States private capital and skills in the economic and social development of less developed countries and areas, and countries in transition from nonmarket to market economies. There are predictions from experts that the impact of OPIC programs on Ukraine could result in financing and other benefits totaling over $500 million in the short run and could even be much greater in the long run.
OPIC’s political risk insurance and financing have helped 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.
Several top level OPIC experts were in Kyiv as participants in today’s workshop. However, OPIC operates its programs only through its Washington headquarters, operating at a practical level through United States embassies around the world. Persons in Ukraine interested in seeking information about accessing the potential benefits of OPIC programs should contact the U.S. Foreign Commercial Service, 4 Hlybochyts'ka St., 4th floor, in Kyiv. 044-490-4018.
To learn more about OPIC, link below: http://www.opic.gov/