Anticipates Presidential Signature to Renew OPIC Charter
Washington, DC – NFTC officials praised House members for their unanimous vote yesterday – and the Senate for passing the bill last Friday – to renew the Overseas Private Investment Corporation (OPIC) charter for four years, until 2007. The bill (S. 1824) now awaits President Bush’s signature into law.
“Passing this bill with overwhelming Congressional support is the crucial step toward ensuring that OPIC – one of the U.S. government organizations critical to facilitating American investment abroad – will continue its work uninterrupted,” said Bill Reinsch, President of the National Foreign Trade Council. “By sending the final bill to the President, lawmakers demonstrate a clear understanding of OPIC’s importance for this country and for the world.”
Created more than 30 years ago, OPIC has helped generate $65 billion in
“OPIC’s accomplishments over the last three decades have burnished U.S. involvement in the economies of vital global regions, increasing those regions’ chances of growth and development and bolstering U.S. foreign relations,” continued Reinsch. “We look forward to the President’s final action on this bill renewing OPIC’s charter and thereby guaranteeing that the organization’s pivotal work in
The National Foreign Trade Council is a leading business organization advocating an open, rules-based global trading system. Founded in 1914 by a broad-based group of American companies, the NFTC now serves 350 member companies through its offices in