WASHINGTON, D.C., Nov. 18—The World Bank Group, Turk Isadamlari Dernegi (TUSIAD), and the Istanbul Chamber of Industry (ISO), yesterday signed a Memorandum of Understanding (MOU) to strengthen cooperation between the Turkish business community and the World Bank Group.
Under the conditions of the MOU, the World Bank Group's Business Partnership Center (BPC) will host liaison officers from TUSIAD and ISO for orientation programs on the private sector activities of the World Bank Group. TUSIAD will send a liaison officer in December 1997.
The MOU was signed by Mr. Muharrem Kayhan, Chairman of the Board of TUSIAD, Ms. Bahar Sahin, Secretary General for ISO and
Mr. Jemal-ud-din Kassum, Vice President of the International Finance Corporation (IFC).
One of the key objectives of World Bank Group is to develop partnerships with the business community to better promote and strengthen the private sector in emerging economies. To help meet this goal, in October 1996, the World Bank Group established the BPC to serve as a first point of contact for the business community. The BPC has worked closely with business groups in several countries to establish liaison desks and organize seminars on business and procurement opportunities within the Bank Group.
The World Bank and IFC missions in Turkey are expected to play a key role in the strengthening the business partnership.
IFC, a member of the World Bank Group, is the largest multilateral source of financing for private sector projects in developing countries.
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