World Trade Center Institute Baltimore Selected As World Bank Private Sector Liaison Officer

Online, March 10, 2011 (Newswire.com) - The World Trade Center Institute (WTCI) has been selected by the World Bank to act as the Mid-Atlantic region's Private Sector Liaison Officer (PSLO). This announcement comes as exciting news for the region and its local firms interested in accessing World Bank procurement opportunities in developing countries. The PSLO will enable the region's business community to use the World Bank program as a way to engage the private sector in international development programs and become a resource for Mid-Atlantic companies.

WTCI will join just three other organizations in the United States with this accreditation, including the Chicago Global Mid-West Alliance, the Greater Houston Partnership and the Trade Development Alliance of Greater Seattle.

"Being aware of World Bank funding and procurement opportunities and having the ability to connect Maryland businesses to these opportunities will be a real benefit for the state of Maryland," said Robert Walker, Assistant Secretary, Maryland Department of Business and Economic Development, "We are delighted WTCI picked up on this and was selected."

The World Bank invests in projects to improve living conditions in developing countries, with the goal of promoting economic growth and helping people overcome poverty. 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. In other words, any company can bid on these projects, and the procurement is overseen by the World Bank, to help ensure a level playing field.

Maryland's industry strengths are as diverse as its population and work force, with a continuously growing presence on the global business stage. With the highest concentration of doctoral scientists, engineers, mathematical and biological scientists, health care providers and technical professionals in the nation, Maryland's economy is globalized, entrepreneurial, and innovation-based. Merits such as these make the region well suited to pursue procurement opportunities.

Deborah Kielty, President & Executive Director of WTCI shares that "We are honored to be selected by the World Bank as the liaison office for our region. It will certainly give our firms more informed access to World Bank Group business opportunities and services."

About the PSLO Program
The PSLO program is a network of business intermediary organizations that promote trade and investment between countries in conjunction with World Bank Group activities. It serves as a key access point to the World Bank Group for the 40,000+ procurement contracts funded annually by the WBG, access to IFC financing of private sector projects, political risk insurance, and WGB information and expertise.

There are currently 107 PSLOs in 80 countries, including 39 in the Middle East and Africa, 31 in Europe and Central Asia, 18 in North & South America, and 19 in South & East Asia.

About the World Bank
The World Bank is an international development organization owned by 187 countries that provides a vital source of financial and technical assistance to developing countries around the world. Their mission is to help people help themselves and their environment by providing resources, sharing knowledge, building capacity and forging partnerships in the public and private sectors, with the goals of promoting economic growth and overcoming poverty.