The White House
President George W. Bush
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For Immediate Release
Office of the Press Secretary
November 13, 2001

United States Activity in Russia Fact Sheet
United States Activity in Russia

Since the signing of the Investment Agreement between OPIC and Russia in 1992, OPIC has committed more than $3.5 billion in OPIC insurance and financing for more than 100 investment projects in Russia.

OPIC currently provides over $284 million in political risk insurance coverage in Russia for projects primarily in the manufacturing, communications, oil field development and mining sectors.  In addition, OPIC provides over $152 million in financing to projects in Russia.

The majority of OPIC projects in Russia are in the manufacturing, telecommunications and oil and gas sectors.  OPIC has also facilitated more than $534 million of private equity for 56 businesses in Russia through OPIC-supported private equity funds in a variety of sectors, including manufacturing, natural resources, agribusiness, food processing, financial services and telecommunications.

Dr. Peter S. Watson, President and CEO of OPIC, participated in the senior-level business development mission to Russia led by U.S. Secretary of Commerce Donald L. Evans from October 14-16, 2001.

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