The U.S. government will fund $313 million in home mortgages for Palestinians living on the West Bank, according to a Government Accountability Office report released Monday.
The U.S. will also guarantee $110 million in loans to small- and medium-sized businesses located on the West Bank.
The mortgage and business-loan activities will be conducted by the federal Overseas Private Investment Corporation (OPIC). “OPIC is the U.S. Government’s development finance institution,” says OPIC’s website. “OPIC provides financial products, such as loans and guaranties; political risk insurance; and support for investment funds, all of which help American businesses expand into emerging markets.”