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Obama’s announcement should have a significant ripple effect, especially on major U.S. lending institutions. The U.S. Overseas Private Investment Corporation (OPIC), which works with the private sector to invest abroad in support of development activities, committed around $1 billion to renewable energy projects in each of the past two years, with its annual commitments increasing nearly 10-fold since 2009. Its recent renewable energy investments are focused on Peru, South Africa and Pakistan, among others.

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