SALT LAKE CITY- (Oct. 5, 2011) The Salt Lake Chamber formalized a relationship with the World Bank to act as the state’s Private Sector Liaison Officer (PSLO).  The relationship will help Utah businesses and businesses throughout the Intermountain West gain access to projects funded by the World Bank in developing countries.

 

“There are so many projects across the globe that can benefit from Utah businesses and Utah businesses should be eager to benefit from the projects,” said Lane Beattie, president and CEO of the Salt Lake Chamber. “Our mission is to strengthen the Utah economy and this relationship with the World Bank has the potential to significantly help our members.”

 

The World Bank provides loans to developing countries for large-scale projects designed to improve living standards and reduce 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. These guidelines help level the playing field for U.S. companies. The PSLO will guide Utah companies through the procurement process, creating better understanding and more opportunities to bid on these projects.

 

“There are billions of dollars worth of projects financed by the World Bank,” said the Chamber’s director of international relations, Elizabeth Goryunova, who will serve as the private sector liaison officer to the World Bank. “We’re here to help Utah businesses recognize opportunity and to take advantage of some of these opportunities.”

 

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.

 

Businesses in Utah and throughout the Intermountain West interested in opportunities available through World Bank funded projects can contact the Chamber directly to begin the process. The Chamber will hold its first procurement seminar Dec. 2, 2011 at 8:00 a.m. Registration will open later this week at www.slchamber.com.

 

“Businesses shouldn’t simply assume this is for someone else,” said Beattie. “No matter what size business you run, there are opportunities that can help you grow and strengthen your bottom line. It’s not a simple process but we’re prepared to help.”

 

The Salt Lake Chamber and its strategic partner the World Trade Center Utah are committed to strengthening Utah’s economy and helping business enter profitable global markets. International business is a growing in Utah; merchandise exports have doubled over the past five years reaching $13.6 billion last year. Products made in Utah and shipped to benefit World Bank projects add to that total.

 

About the World Bank Group
The World Bank is 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.  Bank commitments to developing countries totaled over $57 billion in the last fiscal year.  Projects supported by these loans/credits are a source of business opportunities for local and international organizations.

 

Companies, academic institutions, non-governmental organizations and individuals from member countries of the World Bank are eligible to compete for these business opportunities. Within any given project, there can be literally hundreds of business opportunities varying in size from as little as a few thousand dollars to as large as tens of millions of dollars.

 

About the Chamber
The Salt Lake Chamber is Utah’s largest business association and Utah’s business leader.  A statewide chamber of commerce with members in all 29 Utah counties, the Chamber represents 7,700 businesses and approximately 500,000 Utah jobs—nearly half the workforce of our state. With roots that date back to 1887, the Chamber has stood as the voice of business, supporting its members’ success and championing community prosperity for over a century.