AfDB-OPIC: Sharing Commitments to Africa’s Development

18/03/2011
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The Overseas Private Investment Corporation (OPIC) President and CEO, Elizabeth Littlefield, on Thursday, March 17 2011, paid a courtesy call on AfDB President Donald Kaberuka.

Ms. Littlefield was accompanied by Walter Crawford, US Executive Director at the Bank, and Isabel E. Rioja-Scott, Commercial Officer at the American Embassy in Tunis.

OPIC is America's development finance institution, solving critical world challenges by delivering finance innovations that help U.S. businesses successfully enter, grow and compete in emerging markets.

Discussions between the two sides touched on the partnership between OPIC and the AfDB for joint financing in Africa.

Ms. Littlefield and Mr. Kaberuka shared perspectives on issues of common interest, including how to maximize cooperation in North Africa and Sub-Saharan Africa.

In an interview after their meeting, Ms. Littlefield expressed satisfaction with the outcome of her discussions with the Bank’s President. She said that she and the President shared a desire to help stimulate private sector-lead growth, which can only lead to greater job creation for the continent. “The key channel for our support to the region is through the AfDB’s private sector,” she stressed.

“President Kaberuka and I have shared commitments for partnership to jointly provide finance and develop the region,” Ms. Littlefield said, adding that renewable energy was a high priority for OPIC and was pleased to note that it was equally important to the AfDB as well. “I think these are areas where we will work together to bring clean renewable energy to Africa and to ensure that the continent uses it efficiently and innovatively,” she noted.

Established as a US government agency in 1971, OPIC enables US businesses to create revenues, jobs and growth opportunities at home and abroad. It helps secure America's competitive foothold in pivotal developing economies, bringing stability to unstable regions.