OPIC 256 - Supporting Statement

1. Justification

   1. One method through which the Overseas Private Investment Corporation executes its mission is through the Investment Funds Department (“IFD”), whereby capital is allocated to private equity fund managers (“Managers”) who in-turn invest that capital into companies or projects that align with OPIC’s mission. IFD selects Managers through a quarterly call for proposals (the “Call”) and through the quarterly IFIP (Innovative Financial Intermediaries Program). To select Manager(s), IFD will assess each Manager and its respective investment thesis against a set of varying criteria that will include (inter-alia) (i) alignment to OPIC’s mission, (ii) team cohesion, (iii) historical track record, and (iv) credibility of investment thesis; the Funds Questionnaire will allow IFD to assess how well a given Manager adheres to this and other criteria. Authorization for the collection of this information is granted through Sections 231, 234(b), and 239(d) of the Foreign Assistance Act of 1961, as amended.

   2. The information is collected by OPIC’s Investment Funds Department through a web based platform administered through OPIC’s website, and the information is used by IFD to determine a Manager’s eligibility for OPIC financing, and to collect information for financial underwriting analysis.

   3. The information will be submitted and collected through a web based platform that will function on the OPIC website; all applications will thereafter be converted into a downloadable excel file, which will allow for easier data manipulation and analysis. Considering IFD anticipates approximately 150 applications per year, this web-based platform represents a more efficient means of data and process management.

   4. There will be limited duplication of data as a result of the administration of this Fund Questionnaire. Limited information that is asked of a given Manager can be obtained through other repositories (e.g. private placement memorandums); however, this particular information will likely not be presented in a uniform manner, and considering we anticipate 150 applications, will prove difficult for OPIC to efficiently synthesize and analyze. To mitigate this limited potential for duplication, this form has been crafted with a keen focus on ease of completion (i.e. clear and close ended questions with drop down menus). The majority of information required by this form is not duplicative to an applicant; however even in this regard, the web based format and clarity of questions will make the completion process more efficient for the applicant, the analysis more efficient for OPIC, and the cost more reasonable for both parties.

   5. A wide range of applicants will submit an application; all applicants will be asked the same questions.

   6. Without the collection of this information, IFD is unable to efficiently carry out the mission of OPIC; more of a cost burden will be incurred by OPIC as a result of no collection or less frequent collection as IFD will be required to engage other more costly means of information collection.

   7. A. No such circumstance
      B. No such circumstance
      C. No such circumstance
      D. No such circumstance
      E. No such circumstance
      F. No such circumstance
      G. No such circumstance
      H. No such circumstance
      
      
      

   8. The first 60 day Federal Register Notice was published on December 12, 2017 under the citation number of 82 FR 58456; OPIC received comments in response to the notice, regarding the information to be provided for Investment Policy & ESG and Other-Miscellaneous documentation. OPIC modified two questions to address the concerns in the comments. The modifications should not impact the overall time needed for completed or reviewing the Form. The second 30 day Federal Register Notice was published on March 2, 2018 under the citation number of 83 FR 9031.

   9. No payments or gifts are offered to respondents.

   10. Client information contained in this questionnaire will be deemed designated as “confidential commercial information” in accordance with OPIC’s Freedom of Information Act (FOIA) regulations (22 CFR part 706) and will be treated as confidential to the extent permitted under law. Personal information belonging to an individual will not be released under the FOIA unless the information is already public or if the public interest is greater than the private interest under 5 U.S.C. § 552(b)(6).

   11. None of the questions on this form are of a sensitive nature.

   12. A. Anticipation is for 150 respondents per information request (annual), and each respondent will spend one hour per response. The burden was based on a survey of actual applicants and general historical knowledge of IFD staff.
       B. Not applicable
       C. The estimated annualized cost to the respondents is $11,250. This figure is based on the assumption (a) each application will require one hour to complete (b) the average hourly rate for each applicant is $75 per hour and (c) the number of anticipated applications (annually) is 150.

A	Number of respondents (annual)	150
B	Applications per respondent	1
A*B = C	Number of applications (annual)	150
D	Hours per average application	1.0
C*D = E	Number of application hours (annual)	150
F	Cost per application hour	$75.00
E*F = G	Total annual application expense	$11,250

13. The estimated annualized cost to respondents is as follows: (a) Total capital and start-up costs = $0; (b) total operation and maintenance costs = $0. All costs associated with this form are part of the normal cost of doing business. Since all submissions will become electronic and stored on OPIC’s secure servers, there will be no postage or storage costs.

14. The estimated annualized cost to the Federal government is $4,026. This figure is based on the assumption (a) each application will require one hour to analyze (b) the average hourly rate for each reviewer is $54 per hour and (c) the number of anticipated applications (annually) is 150.

A	Number of respondents (annual)	150
B	Applications per respondent	1
A*B = C	Number of applications (annual)	150
D	Hours per average review	0.5
C*D = E	Number of review hours (annual)	150
F	Cost per hour of review (GS-14/1 DCB)	$53.68
E*F = G	Total annual review expense	$4,026

15. The total annual burden is somewhat increased due to the adjustment in the response time resulting from a survey of actual respondents.

16. Information provided through this form will not be published identifiable form.

17. The OMB expiration date will be printed on each form.

18. No exceptions are being requested.

2. Collections of Information Employing Statistical Methods (Not applicable)