Records of the Overseas Private Investment Corporation/United States International Development Finance Corporation (RG 420)
The Overseas Private Investment Corporation (OPIC) was created by Congress in 1969 and began operations in 1971. Prior to that, its functions had been carried out by USAID. The agency was responsible for promoting economic growth in developing countries and emerging markets by encouraging U.S. private investment in those countries, financing investments through direct loans, and insuring investments against a broad range of political risks. In 2018, legislation consolidated OPIC with USAID's Development Credit Authority and created the United States International Development Finance Corporation that went into operation in 2019. The Corporation provides equity financing, debt financing, political risk insurance, and technical development assistance. U.S. private investment in those countries.