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Earlier this year, with support from the World Trade Center Utah, the Salt Lake Chamber formalized a relationship with the World Bank, expanding opportunities for businesses in Utah and the Intermountain West Region to gain access to projects in developing countries funded by the World Bank.   As Lane Beattie, president and CEO of the Salt Lake Chamber noted, “Businesses should not assume this is for someone else, no matter what size business you run, there are opportunities that can help you grow and strengthen your bottom line.”

The World Bank provides loans to developing countries for large-scale projects designed to improve living standards and reduce poverty.  Last year, the World Bank provided $46.9 billion for 303 projects in developing countries worldwide. Included in that were $1.6 billion of contracts awarded to consultants and $2.9 billion for goods. These projects – building health clinics or schools, investing in roads so farmers can get goods to market, or improving telecommunications or sanitation, for example – frequently involve International Competitive Bidding under guidelines established by the World Bank. These guidelines help level the playing field for U.S. companies.

“There are billions of dollars worth of projects financed by the World Bank,” said the Chamber’s director of international relations, Elizabeth Goryunova, currently serving as the private sector liaison officer (PSLO) to the World Bank. “We’re here to help Utah businesses recognize and take advantage of some of these opportunities.”  In her role as the PSLO, Goryunova will guide Utah companies through the procurement process, creating better understanding and more opportunities to bid on these projects.

The Honorable Ian Solomon, U.S. Executive Director of the World Bank Group, represents the United States as the largest shareholder on the executive boards for the World Bank Group institutions.  Previously, Mr. Solomon was Senior Advisor to the Secretary of the U.S. Department of the Treasury on international and domestic issues, including working on the Administrations global food security initiative as a member of Secretary Geithner’s senior staff.

Please see the  flyer for details on the event, click for full 2 page PDF version: