OPIC was established as an agency of the U.S. government in 1971. OPIC helps U.S. businesses invest overseas, fosters economic development in new and emerging markets, complements the private sector in managing risks associated with foreign direct investment, and supports U.S. foreign policy. OPIC provided $250 million in political risk insurance for the construction by IEC of the offshore natural gas transmission line in Israel. OPIC also granted Morganti the U.S strategic partner in the Gaza Power Generating Company, Political risk insurance of $48 million. Morganti became the strategic partner in GPGC at the end of year 2001, after the collapse of GPGC’s previous partner, ENRON