Bilirakis Applauds OPIC Incentivizing Private Investment In Greece

The Overseas Private Investment Corporation (OPIC) recently issued a document for investors clearly stating that the group is open to reviewing proposals for projects in Greece. Congressman Gus Bilirakis (FL-12), joined by his co-chair of the Congressional Caucus on Hellenic Issues, Congresswoman Carolyn Maloney (NY-12), released a letter last year encouraging OPIC to make such changes.

"Our role as co-chairs of the Hellenic Caucus is to meaningfully enhance the US-Greece relationship in a way that mutually benefits both nations. Greece has always been an important geostrategic ally of the U.S. sitting at a crossroads to the Middle East where ongoing hostilities threaten peace in the region. That is why it is all the more important for Greece to remain a steady and reliable partner in the Eastern Mediterranean," said Congressman Bilirakis. "Encouraging private investment in Greece is an excellent way to ensure economic stability through job creation and revenue generation for a nation in dire need of relief. Greece is working to free itself from economic volatility, and anything we can do to spur private investment through OPIC will significantly help our steadfast ally and well serve the United States and our EU allies."

"This OPIC statement of policy is a welcomed sign of United States support for Greece and its economic recovery," said Congresswoman Maloney. "After attending a White House roundtable last August with Greek-American leaders to discuss efforts to assist Greece during its financial crisis, I joined Rep. Gus Bilirakis in a letter to OPIC President & CEO Elizabeth Littlefield inquiring as to the agency's capacity to attract foreign investment to Greece. I want to thank President Littlefield for her willingness to find ways OPIC could support capital investment in Greece in light of the country's extraordinary financial circumstances. This document will be invaluable to Greek Americans and others who wish to do business in Greece with a focus on economic development. I am also proud to commend the American Hellenic Institute for bringing this potential opportunity to the forefront. The U.S. Government has strongly supported, and must continue to support, Greece as it works to rebound from its economic crisis and this creative step with OPIC, benefiting both investors and the Greek people, will help achieve that goal."

"This provides opportunities to attract potential U.S. investors at a time when Greece is struggling economically and when investment is critical to Greece's growth and its ability to emerge from this financial crisis," AHI president Nick Larigakis stated.

To read the new fact sheet from OPIC, click here.