United States Investment Corporation monitoring Zimbabwe situation

by -
0 383

Washburne was addressing journalists across Africa via telepress conference on Wednesday where he fielded questions about his impending visit to Africa as well as the agency’s Connect Africa investment initiative

 The Overseas Private Investment Corporation (OPIC) says it is closely monitoring the political situation in Zimbabwe as it rolls out an initiative which will mobilize more than $1 billion to projects that support transportation, communications, and value chains in Africa over the next three years.

“We are following that (developments in Zimbabwe) very closely,” said Ray W. Washburne (in picture), the President and CEO of OPIC. “We currently have two projects in Zimbabwe…the last deal we did – the mortgage company – was in 2016, so we’ve been there recently, but we are studying the political situation there very closely.”

Washburne was addressing journalists across Africa via telepress conference on Wednesday where he fielded questions about his impending visit to Africa as well as the agency’s Connect Africa investment initiative.

He said the U.S. government’s development finance institution has a $20 million commitment to a company that provides low-income mortgages in Zimbabwe. In 2016, OPIC supported an insurance project in the healthcare and social assistance sector.

NO COMMENTS

Leave a Reply