Wed | Aug 5, 2020

OPIC delegation arrives in Jamaica today

Published:Monday | May 20, 2019 | 12:18 AM

A delegation from the US government’s development finance institution, the Overseas Private Investment Corporation (OPIC), is expected to arrive in Jamaica today to discuss investment opportunities in energy and other critical sectors.

The visit is part of a wider visit to five Caribbean countries with whom the Donald Trump administration met with in March in Florida, USA.

According to a release from the US Embassy, the OPIC delegation will be led by acting President and Chief Executive Officer David Bohigian. They will also visit The Bahamas, Haiti, the Dominican Republic, and St Lucia between May 19–22, and will also look at strengthening relationships with countries that are key partners in fostering stability and security in the Western Hemisphere.

While in Jamaica, the delegation will meet with government officials representing the Ministry of Foreign Affairs and Foreign Trade, Ministry of Finance and the Public Service, as well as the Ministry of Science, Energy and Technology.

According to the release, Bohigian will also meet with local business leaders and energy companies to explore opportunities for investment and partnership.

Discussions will also be held with representatives from the Development Bank of Jamaica and the Inter-American Development Bank to review opportunities for collaboration on shared development objectives in Jamaica and the Caribbean.

The embassy stated that the visit has been organised in part to demonstrate the US administration’s commitment to supporting economic development in the Caribbean.

It says that the meeting in March with Caribbean leaders to discuss trade, energy investment, and security concerns, President Trump reaffirmed the United States’ commitment to working with its partners in the region to foster economic growth, counter predatory investment practices, and strengthen security cooperation.

Jamaica, The Bahamas, Haiti, the Dominican Republic and St Lucia had been heavily criticised by some CARICOM leaders for meeting with the Trump administration in March, where it was reported that the deepening crisis in Venezuela was also discussed.