Georgian American University signs a loan agreement with OPIC

On Wednesday, 24 April Georgian American University hosted a ceremony for the Overseas Private Investment Corporation (OPIC) Loan signing and Grand Opening of GAU's new campus at 8 Merab Aleksidze Street, Tbilisi.

Ambassador Richard Norland and OPIC's Managing Director of Project Finance Kenneth Angell joined Georgian American University president R. Michael Cowgill and GAU's Chancellor Nino Toronjadze in a ribbon cutting ceremony to dedicate the new university campus.

Following the formal ribbon cutting, the loan agreement was signed by OPIC’s Managing Director of Project Finance, Kenneth Angell, and the President of Georgian American University, R. Michael Cowgill. The new campus of the university was completed completely renovated and equiped in 2012 with funding thanks to a $3.5 million loan from the Overseas Private Investment Corporation (OPIC). Ambassador Norland noted that education is vital to economic development of Georgia. The United States has been deeply involved in supporting education in Georgia through different USAID programs, Millennium Challenge Corporation and Fulbright and other exchange programs.

About OPIC:

OPIC is the U.S. Government’s development finance institution. It mobilizes private capital to help address critical world development challenges. Because OPIC works with the U.S. private sector, it helps U.S. businesses expand into emerging markets, catalyzing revenues, jobs and growth opportunities both at home and abroad. OPIC achieves its mission by providing investors with financing, guarantees, political risk insurance, and support for private equity investment funds.