According to a press release on November 9, 2004 by the U.S. State Department, the Overseas Private Investment Corporation (OPIC) has committed more than $40 million in financing to U.S. small businesses since opening its programs in Mexico in 2003 and anticipates providing hundreds of millions more in the upcoming months, as American companies realize the potential return on investments in Mexico. OPIC was established in 1971 as a self-sustaining development agency of the U.S. government. OPIC helps U.S. businesses invest overseas, fosters economic development in emerging markets and developing nations such as Mexico, complements the private sector in managing the risks associated with foreign direct investment, and supports U.S. foreign policy. By expanding economic development in Mexico, OPIC-supported projects encourage political stability and free market reforms. In its press release in 2004, OPIC stated that it anticipated providing hundreds of millions of dollars in financing to U.S. small businesses interested in investing in Mexico as American companies realize the potential return on investment.
Investment in Mexico has also accelerating as a result of the U.S.- Mexico Partnership for Prosperity (P4P). This is a public-private partnership initiated by President George Bush and President Fox of Mexico in September 2001 to spur economic growth and bring development to those regions which have benefited less from NAFTA. Its goal is to increase economic development in the areas of Mexico from which most emigrants leave on the premise that no Mexican should feel compelled to leave their home for lack of economic opportunity. The Partnership for Prosperity seeks to leverage private sector resources and expertise to facilitate investment in small business, housing, agriculture, roads, ports, airports, and information technology.
Under the P4P agreement, OPIC provide loans of up to $250 million per proj
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