Congress is set to vote today on renewing the Overseas Private Investment Corporation (the renewal is tucked into the “Electrify Africa Act”). OPIC uses taxpayer backing to finance and insure American companies when they set up operations overseas.
For instance, in 2012, OPIC approved a $20 million loan to help an American businessman build a luxury car dealership in Ukraine. Here’s how OPIC described the project they were financing with taxpayer
