US DOE, OPIC to invest USD 1 billion in Mexico

WASHINGTON, DC, June 29, 2018 – US Department of Energy (DOE) Secretary Rick Perry has announced that the US government will invest USD 1 billion in Mexico’s energy sector over the next three years through a partnership with the Overseas Private Investment Corporation (OPIC), international media reported Thursday.

Secretary Perry and OPIC president and CEO Ray Washburne announced their agencies’ Partnership to Power the Americas at the World Gas Conference in Washington, DC. OPIC is the US government’s development finance institution.

“The objectives are to develop energy resources and drive regional energy and economic security in the region, while promoting US expertise, equipment and technology,” OPIC wrote in a June 28 press release.

“The [DOE] will identify regions and sectors throughout Latin America that present opportunities for US energy companies and OPIC will assist those companies by providing financing and insurance when it is unavailable from the private sector,” the press release said.

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