OPIC Finance Workshop

As Prepared For Delivery | June 25, 2015 | Gaborone

It is an honor to join you today for what I believe will be a very beneficial workshop. I would like to thank Overseas Private Investment Corporation Vice President Jim Polan and Director for Corporate Development Alison Germak for hosting the workshop, the American Business Council, known as ABC, for organizing the event, and the Botswana Investment and Trade Center for providing this excellent venue.

The U.S. Embassy looks forward to working with you through business matchmaking. I urge you to proactively take advantage of this resource. For example, my staff has been working to facilitate private sector partnerships to enable Batswana companies to develop competitive solar project bids with cutting edge technology.

It is exciting to see Botswana move towards including Independent Power Producer operations and solar projects in its power generation mix. The country has tremendous energy potential and harnessing renewable and coal resources will further economic diversification.

To support the Government of Botswana in this regard, the U.S. Embassy has worked with the U.S. nonprofit Initiative for Global Development, a Power Africa member, to streamline and standardize bankable power purchase agreements. I am happy to announce following consultations earlier this month, the Initiative for Global Development formally extended this offer of assistance to the Government of Botswana on June 16.

This is just one of the many ways we work to support private sector-led growth in Botswana. My OPIC colleagues will discuss many others.