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Timothy Harwood

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Friday, March 5, 2010

OPIC Selects Velstand and Erfolg LTD as Originator in Enterprise Development Network

Velstand & Erfolg contact: 995-32-207205, g.gvalia@velstand-erfolg.com

WASHINGTON, D.C. –The Overseas Private Investment Corporation (OPIC) has selected Velstand & Erfolg LTD, a financial service organization located in Tbilisi, Georgia, to serve as an originator for a growing alliance with the private sector designed to support small and medium enterprises (SMEs) expanding into emerging markets overseas.

The alliance, the Enterprise Development Network (EDN), is expanding the ability of OPIC – the U.S. government agency charged with facilitating U.S. private sector investment in emerging markets – to provide financing to SMEs doing business in developing countries.

Through the support of financial institutions, business consultants, associations, law firms and regional investment promotion agencies, EDN is designed to enhance SME access to OPIC products and services. By empowering such service providers, the network is resulting in more efficient, cost-effective delivery of services to American businesses.

Velstand & Erfolg LTD (V & E) is a financial service and consulting organization based in Tbilisi, Georgia. V & E was established in 2009. The V & E management team has had prior experience working with OPIC and attracting long term financial resources for SMEs. Velstand & Erfolg is the first privately-owned company from the former Soviet Union and Eastern Europe that has been selected as a designated EDN Originator. Visit Velstand & Erfolg LTD on the web at www.velstand-erfolg.com.

OPIC was established as an agency of the U.S. government in 1971. It helps U.S. businesses invest overseas, fosters economic development in new and emerging markets, complements the private sector in managing risks associated with foreign direct investment, and supports U.S. foreign policy. Because OPIC charges market-based fees for its products, it operates on a self-sustaining basis at no net cost to taxpayers.

OPIC’s political risk insurance and financing help U.S. businesses of all sizes invest in more than 150 emerging markets and developing nations worldwide. Over the agency's 39-year history, OPIC has supported $194 billion worth of investments that have helped developing countries to generate over 842,000 host-country jobs. OPIC projects have also generated $74 billion in U.S. exports and supported more than 274,000 American jobs.