Remark for the visit of the President and CEO of OPIC
May 16, 2006

Good afternoon.  It’s an honor to be here with the Vice President of  El Salvador, the Minister of Economy, and the President of the Overseas Private Investment Corportation, OPIC.

OPIC is an agency of the U.S. government that was created in 1971. It has two main functions: to help U.S. companies invest in developing countries and to support the international trade policy of the U.S.

I had the privilege of serving on the Board of Directors of OPIC before becoming Ambassador.  I am pleased that OPIC has recognized the economic growth potential of El Salvador, especially through the development of small and medium enterprises, for whom these agreements will provide credit and financing opportunities.

El Salvador was the first country to ratify CAFTA-DR and the first to have it enter into force with the U.S. This visit demonstrates once again – as we did last October with the visit of t
Secretary of Commerce Carlos Gutierrez – that the United States is committed to supporting El Salvador’s efforts to create opportunities and spur economic development.

It is now my pleasure to introduce Mr. Robert Mosbacher, Jr., President and CEO of OPIC.