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Investment group will commit $1 million to African businesses.(Overseas Private Investment Corp.)(Brief Article)
The Overseas Private Investment Corp. will provide $1 million to the Peoples Investment Fund for Africa, a microfinancing program for African small businesses that will match OPIC's money with loans from individual Americans.
OPIC is a self-sustaining federal agency that provides political risk insurance, project finance and investment money to U.S. businesses that expand into emerging markets throughout the world. The agency tripled its business in Africa last year, with 80 percent of its loans going to …
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