CGAP CEO Littlefield to Head Overseas Private Investment Corporation (OPIC)By Cgap, PRNE
Wednesday, June 23, 2010
WASHINGTON, June 24, 2010 - The Senate has confirmed the appointment of former CGAP CEO Elizabeth
Littlefield to head the Overseas Private Investment Corporation (OPIC). Ms.
Littlefield will be sworn in as OPIC President and CEO on Friday, June 25.
OPIC (www.opic.gov) is a US Government agency that fosters
economic and social development by financing US private sector investment in
sustainable development abroad. Working in over 150 countries, OPIC provides
insurance, lending, and other financial products in such areas as renewable
energy, telecommunications, power, and small and microenterprise.
Ms Littlefield first joined CGAP (Consultative Group to Assist the Poor)
in 2000. Before then she worked with JP Morgan, where she was the Managing
Director in charge of JP Morgan's Emerging Markets Capital Markets Division.
As such, she oversaw JP Morgan's capital markets business in Central, Eastern
and Southern Europe, Central Asia, Middle East and Africa. In parallel to her
career in investment banking, Ms. Littlefield also spent a year and a half
providing guidance to several start-up microfinance institutions in West and
Central Africa, and in Pakistan.
Under Ms. Littlefield's leadership, CGAP established a reputation as a
thought leader and knowledge center, offering research and expertise that has
helped shape the microfinance industry as it has grown and flourished over
the past years.
"It's been a remarkable decade for microfinance and I am proud of what
CGAP has accomplished in that time," said Littlefield. "Microfinance has
captured the imaginations, and entered the hearts, of many. For me, it has
been a privilege to lead CGAP and to work in partnership with so many
remarkable people and organizations to help build an industry that is robust,
innovative, and truly dedicated to serving poor clients."
Over the past few decades microfinance has developed from a cottage
industry run by development specialists into a global business. CGAP has been
credited with playing a pivotal role in this transformation, helping to build
an industry that today offers financial services on a sustainable basis to
millions of poor people around the world. With Ms Littlefield at its helm,
CGAP has been a leading voice advocating on behalf of low income people, and
it has helped to professionalize the industry by building transparency and
standards for good practice while also promoting responsible financial
inclusion. The organization has been at the forefront of innovations such as
mobile banking, and new models to reach those living in extreme poverty.
Working closely with policymakers, CGAP has helped advance understanding of
how financial stability, financial inclusion, and protecting clients can be
mutually reinforcing–and achievable-goals.
Alongside her work with CGAP, Littlefield has also served on the
executive board of several organizations including Women's World Banking,
Profund, Africa International Financial Holding, the Mastercard Foundation,
the Calvert Foundation, and E&Co.
Jeanette Thomas of CGAP, +1-202-744-4829, jthomas1 at cgap.org
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