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The World Bank, headquartered in Washington DC is not a traditional bank. It does not lend money to businesses or individuals. It is a vital source of financial and technical assistance to developing countries around the world.

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World Bank Headquarters in Washington D.C.

World Bank provides loans to governments of 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. 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. 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.

World Bank Private Sector Liaison Officers (PSLO) network, launched in 1999, is a group of 114 officers in 81 countries around the world working to foster trade and investment between their regions and developing countries. PSLOs facilitate companies’ access to international financial institution (IFI) business opportunities, services and knowledge, and act as the voice of the private sector for the IFI’s on how to better engage companies on development issues. World Trade Center Utah is a host to one of the nine US Private Sector Liaison Officers that guides Utah businesses and businesses throughout the Intermountain West through the procurement process, creating better understanding and more opportunities to bid on these projects and helps identify projects funded by the World Bank in developing countries.

If you are interested in learning more about projects and opportunities, please contact email admin@wtcutah.com or call (801) 532-8080.