OIG Oversight: Overseas Private Investment Corporation Overview
The USAID Office of Inspector General (OIG) was established on December 16, 1980, and was bought under the purview of the Inspector General Act of 1978 on December 29, 1981. Section 239(e) of the Foreign Assistant Act of 1961 dictates USAID OIG may conduct reviews, investigations, and inspections of all phases of the Corporation’s operations and activities. Under the Inspector General Act of 1978, USAID OIG operates independently of the agencies for which it has oversight authority.
Established in 1971, OPIC serves as the U.S. Government’s development finance institution. It mobilizes private capital to help solve critical development challenges and in doing so, advances U.S. foreign policy. By providing financial products, such as loans and guaranties, political risk insurance, and support for investment funds, OPIC helps U.S. businesses gain footholds in emerging markets, catalyzing revenues, jobs and growth opportunities both at home and abroad.
OPIC applies a set of clear and transparent policies that promote sustainable economic development. Through its Office of Investment Policy, OPIC ensures that all OPIC-supported projects:
Are environmentally and socially sustainable
Respect human rights, including workers’ rights
Have no negative impact on the U.S. economy
Encourage positive host country development effects
For more information, visit the official OPIC Website.