In this increasingly globalized world, Maryland companies are extending their reach beyond traditional trading partners. Business opportunities in the developing world are greater than ever.
Governor Martin O’Malley’s International Advisory Council, founded in 2009, is keenly aware of the challenges facing Maryland companies looking to work with new trading partners. One resource for these businesses is the the World Bank.
To explain the World Bank’s mission, Sara Aviel, the United States representative on the Executive Board at the World Bank, recently met with members of the advisory council.
“In pursuit of its twin goals of ending extreme poverty and promoting shared prosperity, the World Bank Group provides a range of benefits to the private sector by helping developing countries lay the foundations for economic growth, from improving business climates to building critical infrastructure like roads and ports to mitigating the effects of financial crises,” Aviel said.
“The Group also provides benefits to American companies through financing, political risk insurance, and procurement opportunities. I encourage interested Maryland businesses of all sizes to work closely with the World Trade Resource Center Institute and the Department of Business of Economic Development to explore ways to partner with the World Bank Group,” she added.
Bob Walker, Deputy Secretary within the Maryland Department of Business and Economic Development, who hosted the advisory council meeting at DBED’s Baltimore offices, said, “There are many tools we try to make available to Maryland companies to help them grow their businesses. The World Bank, which offers analysis on international markets and provides loans to governments in the developing world, is a resource for businesses in our state.”
More than 160 Maryland companies have benefitted from and partnered with the World Bank in recent years, Walker said.
Learn more about The World Bank’s business resources here.