Houston to gain World Bank post
Posted on 26. Nov, 2009 by Xander in Headlines
JENALIA MORENO
Houston Chronicle
November 26, 2009
Houston is on the world map — the World Bank map, that is.
The city was chosen as the site for a World Bank Group post that will open in January.
The bank provides loans, credits and grants to developing countries for investments in education, health, infrastructure, development and other projects across the globe. Every year, more than 40,000 World Bank Group contracts worth $25 billion are awarded.
Houston is the third U.S. city after Chicago and Seattle to host a World Bank public sector liaison officer. Globally, there is a network of 100 such officers who help locals learn about the bank’s contracts.
The as-yet-unnamed officer will provide Houston businesses with these international funding opportunities in emerging markets and developing nations.
“This office is an important opportunity for Houston businesses that are looking for putting deals together with the World Bank,” said Jeff Moseley, president and CEO of the Greater Houston Partnership. “This will be a tool for helping our businesses get a better understanding for these loans that are processed annually.”
On Wednesday, the partnership will announce more details about the creation of this position. The partnership will provide office space and funding for the position. In return, the bank, which fights global poverty, will train the liaison.
It took about a year of negotiations before Houston was selected by the bank, Moseley said.