“The Little Agency That Could” – OPIC’s Outsized Role in Global Development

This often-overlooked agency leads U.S. development efforts overseas – while making a profit for taxpayers.

In 2011, the Dominican Republic launched its first-ever wind farm, with the eventual capacity to offset more than 62,500 tons of carbon emissions a year.

In sub-Saharan Africa, “micro-irrigation” kits allow small farmers to grow onions, tomatoes and other cash crops throughout the dry season, boosting production and incomes.

And in rural India, 300,000 people a day have access to clean drinking water from 500 new water-treatment facilities built in villages throughout Punjab.

These initiatives are among the thousands of projects financed over the years by the federal Overseas Private Investment Corporation (OPIC). Though often overlooked, this agency has long been at the forefront of U.S. efforts to boost the economies and living standards of developing countries while also supporting U.S. foreign policy aims.

Continued at the Washington Monthly…