Overseas private investment corporation lines up $ 1 billion for India

HYDERABAD: The Overseas Private Investment Corporation (OPIC), a financial institution of the US government, has readied $1 billion in the pipeline for investments in infrastructure and lending projects in India, its president Ray Washburne told ET.

Washburne, who has been a key political fundraiser for Donald Trump’s presidential campaign, said the reforms for doing business put in place by the Narendra Modi government have been very encouraging and similar to what the US president has done in America. “We currently have $1.4 billion in investments in India. We have been doing business in India since 1974,” Washburne told ET on the sidelines of the Global Entrepreneurship Summit in Hyderabad on Wednesday.

“We have about $1 billion worth of projects in India in small business loans, infrastructure such as power plants and electrical grids that we are reviewing,” he said. Washburne said the reforms for doing business put in place by the Modi government have been very encouraging.