Overseas Private Investment Corporation (OPIC) officials visited Lebanon October 2-3 to promote U.S. investment in the region and meet with business partners. Since 1981, OPIC has supported private investment in Lebanon with loans, guaranties, and political risk insurance. Over its history, OPIC has committed $362 million to activities in Lebanon and currently has an active portfolio of $190 million. Projects include financing to support small business and microfinance lending and political risk insurance to support the renovation of a university and humanitarian activities. Since 2007 OPIC-supported Vitas Lebanon SAL, a leading microfinance institution, has made or facilitated over 94,000 loans worth over $195 million dollars to entrepreneurs, microenterprises, small businesses, and households in Lebanon. Vitas Lebanon SAL has created jobs, improved lives, and contributed to the development Lebanon’s small businesses while fostering community stability.
