Overseas Private Investment Corporation Reauthorization Act of 2008

Bill 110 hr 2798, also known as the Overseas Private Investment Corporation Reauthorization Act of 2008, is a piece of legislation that focuses on reauthorizing the Overseas Private Investment Corporation (OPIC). OPIC is a government agency that helps support US businesses investing in developing countries by providing them with financing, political risk insurance, and other services.

The main purpose of this bill is to extend the authorization of OPIC for an additional three years, until September 30, 2011. This extension is important because it allows OPIC to continue its work of promoting economic development and stability in developing countries through private sector investment.

In addition to reauthorizing OPIC, the bill also includes provisions aimed at improving the agency's transparency and accountability. For example, it requires OPIC to submit annual reports to Congress detailing its activities and the impact of its programs. This increased transparency is intended to ensure that OPIC is operating efficiently and effectively in achieving its goals. Overall, the Overseas Private Investment Corporation Reauthorization Act of 2008 is a crucial piece of legislation that supports US businesses investing in developing countries and promotes economic development and stability in those regions. By reauthorizing OPIC and increasing its transparency, this bill helps ensure that the agency can continue its important work in the years to come.