Tuesday, May 29, 2012

Tapayers give $30 million to new Palestinian investment fund

Few people know, but the Federal government has its own investment office to use taxpayer money to spend on corporate, sovereign, and business investments.  Known as the Overseas Private Investment Corporation, this fund can is is used to circumvent Congressional approval of foreign aid.

On May 28th, this taxpayer funded investment firm decided to create a fund which will funnel $30 million into the Palestine territories, even as oversight of the money may be in question with terrorist organizations (Hamas) remaining in power.



The first fund aimed at investing in the Palestinian Territories has received $30m of financing from the United States’ Overseas Private Investment Corporation (OPIC).

Siraj Fund Management’s Company’s inaugural investment vehicle has already backed four businesses in the region since it was launched in February last year, while five more investments were approved last month.

The fund had an initial target of $80m but has now hit $90m following the round of OPIC financing, which was provided as part of Barack Obama’s initiative to support technological development in Muslim countries. - Alt Assets
OPIC is a government run office, which has many cabinet level members on its board of directors

With the US economy continuing to decline, and small businesses closing their doors by the thousands, why our government would invest taxpayer money into growing businesses overseas to the detriment of the American worker and American jobs is a very curious direction President Obama and his administration would take.

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