OPIC Form 252
OMB
SUPPORTING STATEMENT FOR APPROVAL
JUSTIFICATION
The form will be used to conduct a preliminary screen of certain proposed investments or to request prior approval for certain investments made through OPIC-supported Financial Intermediaries that may have potential negative impacts on the U.S. economy or employment. It will also be used to identify performance requirements that may substantially reduce the positive trade benefits likely to accrue to the U.S. from proposed investments or proposed downstream investments to be made through OPIC-supported financial intermediaries.
Section 231 (k) of the Foreign Assistance Act of 1961, as amended (22 U.S.C. § 2191(k)(1)), requires OPIC to decline to support any “investment if the Corporation determines that such investment is likely to cause such investor… significantly to reduce the number of his employees in the United States because he is replacing his United States production with production from such investment which involves substantially the same product for substantially the same market as his United States production.”
Section 231 (l) of the Foreign Assistance Act of 1961, as amended (22 U.S.C. § 2191(l)), requires OPIC to decline to support any “investment if the Corporation determines that such investment is likely to cause a significant reduction in the number of employees in the United States.”
Section 231 (m) of the Foreign Assistance Act of 1961, as amended (22 U.S.C. § 2191(m)), requires OPIC to decline to support any “investment subject to performance requirements which would reduce substantially the positive trade benefits likely to accrue to the United States from the investment.”
The information will be used by the Office of Investment Policy (“OIP”) to screen out investments that may have a negative impact on the U.S. economy or employment prior to the submission of a full formal application. It will also be used to screen downstream investments made by OPIC –supported financial intermediaries to ensure that these do not have a negative impact on the U.S. economy or employment. The preliminary screen saves the investor time by identifying investments that OPIC is prohibited from supporting prior to completing a full OPIC application for support.
The form will be made available via the OPIC website in PDF form. The form will be sent electronically to the investor or financial intermediary on an “as needed” basis.
This information is not required by any other Federal agency as it relates specifically to OPIC’s programs.
The burden of collecting information does not vary with the size of the business applying for assistance. The information may save the business time by identifying investments that OPIC is prohibited from supporting prior to completing a full OPIC application for support.
If the information is not collected: (i) an investor seeking OPIC support for an investment that may have a negative impact on the U.S. economy or employment will not be informed that OPIC cannot support the project until after submission of a full formal application; and (ii) an OPIC-assisted financial intermediary may make an investment that violates OPIC’s statute on not supporting investments that have a negative impact on U.S. jobs or that have performance requirements that reduce U.S. trade as a result of the investment. The information will be collected on an “as-needed” basis or in compliance with contractual obligations for specified investments with an OPIC-supported financial intermediary.
No special circumstances exist that require the information collection to be conducted in a manner inconsistent with the guidelines of the Paperwork Reduction Act or OMB’s implementing regulations.
This is a new form that has not been approved by OMB; however the questions on the form are derived from a previously-approved form (OMB 3420-0032, expiration 8/31/2015).
No payments or gifts are offered to respondents.
Financial information in the form will be deemed “confidential commercial information” in accordance with OPIC’s FOIA regulations, 22 C.F.R. Part 706, and will be treated as confidential commercial information to the extent permitted by law.
Not applicable. None of the questions on this form are of a sensitive nature.
The estimated burden of collecting this information is as follows:
100 respondents
x 1 per respondents
100 total annual responses
x 2 hour per response
200 Respondent Hours
x $75 for personnel, record-keeping, overhead
= $15,000 Total Cost to Respondents
The estimated annualized cost to respondent is as follows:
Total capital and start-up costs: $0
Total operation and maintenance cost: $0
All costs associated with this form are part of the normal cost of doing business.
The estimated annualized cost to the Federal government is 100 responses x 3.0 hours x $50.41hour = $15,123.
The number of total respondents is based on the approximate number of informal requests for preliminary reviews of potential projects received by OIP per year, combined with the number of OPIC-supported financial intermediaries that are required to receive prior OPIC approval for certain investments.
Not applicable. Information provided in the form is not published or made public in any way.
Not applicable. The OMB expiration date will be printed on each copy of the form.
Not applicable. No exceptions are being requested on the certification statement.
| File Type | application/vnd.openxmlformats-officedocument.wordprocessingml.document |
| Author | Leonard, Lori |
| File Modified | 0000-00-00 |
| File Created | 2021-01-26 |