Submission for OMB Review; Comment Request

OVERSEAS PRIVATE INVESTMENT CORPORATION

Submission for OMB Review; Comment Request

AGENCY:

Overseas Private Investment Corporation (OPIC).

ACTION:

Request for comments.

SUMMARY:

Under the provisions of the Paperwork Reduction Act (44 U.S.C. Chapter 35), Agencies are required to publish a Notice in the

Federal Register

notifying the public that the Agency has prepared an information collection request for OMB review and approval and has requested published review and comment on the submission. OPIC published its first

Federal Register

Notice on this information collection request on May 2, 2001, in 66 FR 22054, at which time a 60-calendar day comment period was announced. This comment period ended July 2, 2001. No comments were received in response to this Notice.

This information collection submission has now been submitted to OMB for review. Comments are again being solicited on the need for the information, its practical utility, the accuracy of the Agency's burden estimate, and on ways to minimize the reporting burden, including automated collection techniques and uses of other forms of technology. The proposed form under review is summarized below.

DATES:

Comments must be received on or before August 13, 2001.

ADDRESSES:

Copies of the subject form and the request for review submitted to OMB may be obtained from the Agency Submitting Officer. Comments on the form should be submitted to the OMB Reviewer.

FOR FURTHER INFORMATION CONTACT:

OPIC Agency Submitting Officer:

Carol Brock, Records Manager, Overseas Private Investment Corporation, 1100 New York Avenue, NW., Washington, DC 20527; 202/336-8563.

OMB Reviewer:

David Rostker, Office of Information and Regulatory Affairs, Office of Management and Budget, New Executive Office Building, Docket

Library, Room 10102, 725 17th Street, NW., Washington, DC 20503, 202/395-3897.

Summary of Form Under Review

Type of Request:

Form Renewal.

Title:

Request for Registration for Political Risk Investment Insurance.

Form Number:

OPIC 50.

Frequency of Use:

Once per investor, per project.

Type of Respondents:

Business or other institutions.

Standard Industrial Classification Codes:

All.

Description of Affected Public:

U.S. companies investing overseas.

Reporting Hours:

1/2

hour per project.

Number of Responses:

850.

Federal Cost:

$1,600.00.

Authority for Information Collection:

Sections 231 and 234(a), of the Foreign Assistance Act of 1961, as amended.

Abstract (Needs and Uses):

The OPIC 50 form is submitted by eligible investors to register their intent to make international investments, and ultimately, to seek OPIC insurance. By submitting Form 50 to OPIC prior to making an irrevocable commitment, the incentive effect of OPIC is demonstrated.

Dated: July 6, 2001.

Rumu Sarkar,

Assistant General Counsel, Administrative Affairs, Department of Legal Affairs.

[FR Doc. 01-17426 Filed 7-11-01; 8:45 am]

BILLING CODE 3210-01-M