WASHINGTON — The Armenian Assembly of America announced recently that Overseas Private Investment Corporation (OPIC) Acting President and Chief Executive Officer (CEO) David Bohigian will be the keynote speaker at the Assembly’s National Advocacy Conference luncheon on Monday, September 16. Bohigian is the highest-ranking Armenian-American official in the current Administration, appointed by President Donald Trump.
OPIC is a self-sustaining US Government agency that helps American businesses invest in emerging markets. The US agency provides financial products such as loans and guaranties, political risk insurance, and support for investment funds, all of which help American businesses expand into emerging markets.
“Mr. Bohigian’s insights on OPIC’s mission and perspective from his visit to Armenia will give conference participants a better understanding of US support of economic development opportunities in Armenia in support of this young democracy,” Assembly Executive Director Bryan Ardouny stated. “The Armenian Assembly of America strongly supports US initiatives to help provide opportunities in Armenia and strengthen its economy, in addition to having a strong record in promoting US-Armenia relations, including the advancement of democracy, rule of law, and good governance.”
Bohigian has served as acting president and CEO since March 2019, and was executive vice president since August 2017, when he was sworn in by the Senate. This year, Bohigian and Ivanka Trump launched OPIC’s 2X Africa initiative to support investment in women in Africa. From 2002 to 2009, Bohigian held several senior positions at the US Department of Commerce under the George W. Bush administration. As the Assistant Secretary for Market Access and Compliance in the International Trade Administration, he focused on eliminating barriers to trade and investment for US companies. Prior to that, he was the Director of the Department of Commerce’s Office of Policy and Strategic Planning as the lead economic and energy advisor to two Secretaries.
OPIC has a long history of supporting development in Eurasia, and was an early investor in the newly independent states in the 1990s following the fall of Communism. Today this region remains critical to American foreign policy and OPIC continues to actively support investment in the area. In 2019, OPIC implemented a project on long-term home mortgage loans to households in the Republic of Armenia with First Mortgage Company III, and is expected to have a positive developmental impact by expanding the availability of mortgages to women and low-income/rural families in Armenia.
Other OPIC projects in Armenia in the past ten years include Eurasia Foundation (2016), WBC – Ardshinbank CJSC (2016), ACBA Credit Agricole Bank CJSC (2014 & 2012), Promyshlenno-Stroitelny Investitsionny (2013), Marriott Hotel (2013), MicroVest Short Duration Fund, LP (2012), First Mortgage Company II (2012), and Ardshininvestbank (2009).
