Rob Mosbacher highlighted entrepreneurial capitalism as one of the most effective means of reducing global poverty and the strongest soft power tool that is available to us. Mr. Mosbacher began by outlining the evolution of OPIC’s role, from risk mitigation, loans and loan guarantees to much more catalytic investments involving private equity funds.

Mr. Mosbacher cited examples from countries with challenging environments, such as Lebanon, the West Bank, Afghanistan and Liberia, where the use of OPIC programs has enabled private investment to flow in despite the difficult circumstances. In Lebanon, for instance, a partnership between OPIC and Citibank provided financial backing for several well established local banking institutions. Other countries have benefited from small business lending programs and financing for hotels.

Business leaders are committed to IGD, Mr. Mosbacher said, because they understand that the current approach by the U.S. to foreign assistance and to global development must be updated. Business leaders who have an interest in international markets and in helping their country by helping others have an integral part to play in redesigning the hard power - soft power equation. He championed partnerships between the public and private sectors that would involve coordinating and leveraging resources as a means to global poverty reduction.

Event co-hosted by the Washington Council on International Trade