Seoul, Korea, April 2, 2015– More than 200 delegates from over 70 private companies and public institutions located in Korea participated in a workshop, “Business Opportunities with the World Bank Group”, to learn about how Korean companies can compete for contracts under the World Bank financed projects, and partner with the WBG’s International Finance Corporation (IFC) and Multilateral Investment Guarantee Agency (MIGA) on private sector investment in developing countries.
The workshop, jointly hosted by the WBG Korea Office and the Korea Export Import (KEXIM) Bank, was the first of its kind ever held in Korea to provide comprehensive information about the World Bank’s procurement policy and expected changes. Joyce Msuya, Special Representative of the World Bank Group Korea Office, opened the workshop noting that the Korea Office would continue to engage Korean clients who seek to explore business opportunities with the World Bank in the future.
Participants found particularly helpful a set of presentations by Elmas Arisoy, Public Integrity and Openness Practice Manager of the World Bank’s Governance Global Practice, on the nuts and bolts of the World Bank project cycle and World Bank procurement policy and procedures. The subjects covered included lending trends, lending instruments, procurement of works, goods and services, selection of consultants, and expected changes on the World Bank’s procurement policy and procedures. She also provided training on preparing responsive bids and proposals, and ensuring competiveness.
“Korea's experience in sustainable development, providing infrastructure and better service delivery to improve the lives of the people provides lessons that can benefit many other developing countries in the East Asia Region and around the world”, said Arisoy. World Bank’s procurement policy visions ‘achieving value for money with integrity in delivering sustainable development’ and Korean companies can play a significant role in implementing this vision by transferring knowledge, experience and innovative solutions to the developing countries.”
The workshop also featured a presentation by Darren Dorkin, Program Coordinator at the World Bank Group Korea Office, on how to track country and sector-specific business opportunities on World Bank financed projects through the bank’s web site and other routes. He also highlighted aggregate and specific cases of successful contract awards by Korean companies.