The White House
President George W. Bush
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For Immediate Release
Office of the Press Secretary
May 24, 2002

Fact Sheet: Investment Fund for Russia and Eurasia
United States Overseas Private Investment Corporation's
Investment Fund for Russia and Eurasia

At the request of President Bush and in recognition of the important relationship between the United States and Russia, the United States Overseas Private Investment Corporation (OPIC) is establishing a $100 million private equity fund for Russia and Eurasia.

The new Russia fund is in keeping with the mission of OPIC's funds program to serve as a catalyst for private sector economic activity in developing countries. By supporting privately-owned and privately-managed investment funds that make direct equity and equity-related investments in new, expanding, or privatizing companies, OPIC is helping to provide long-term capital and critically-needed technology and management skills. OPIC-supported funds are limited to regions or sectors that have been identified as having particular needs for equity funding not being met by the private sector. The fund manager is expected to add value to the portfolio investments by providing management expertise, improved marketing, and access to international manufacturing technologies.

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