Chairman Royce on the hearing: “Seventy percent of small businesses in emerging economies can’t access the capital needed to grow. But the organization tasked with helping U.S. businesses invest in development projects overseas is outdated. By reforming and modernizing our development finance institutions we can unleash the power of private-sector-led growth and create more opportunities for U.S. investment and trade while also protecting U.S. national security interests. This hearing will give members an opportunity to hear from the administration about its proposal to better leverage public-private partnerships.”

Opening Statements

Full text of Chairman Ed Royce’s opening statement

Witnesses

The Honorable Ray W. Washburne
President and Chief Executive Officer
Overseas Private Investment Corporation
[full text of statement]

____________________________

Hearing transcript (PDF)