Overseas Private Investment Corporation Reauthorization Act of 2009

Bill 111 s 705, also known as the Overseas Private Investment Corporation Reauthorization Act of 2009, is a piece of legislation that aims to reauthorize 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 bill seeks to extend the authorization of OPIC for a certain period of time, allowing the agency to continue its work of promoting economic development and stability in developing countries through private sector investment. It also includes provisions to enhance the transparency and accountability of OPIC's operations, ensuring that taxpayer dollars are being used effectively and efficiently.

Additionally, the bill includes measures to strengthen OPIC's ability to support US businesses in emerging markets, such as by expanding the agency's financing options and increasing its focus on small and medium-sized enterprises. It also aims to promote environmental and social responsibility in OPIC-supported projects, requiring the agency to consider the potential impacts of its investments on local communities and the environment. Overall, Bill 111 s 705 is an important piece of legislation that seeks to reauthorize and strengthen the Overseas Private Investment Corporation, ensuring that it can continue to support US businesses investing in developing countries and promote economic growth and stability around the world.