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San Salvador, El Salvador. February 15, 2012—
The World Bank and IFC, members of the World Bank Group, are working to find ways to improve trade logistic operations and help integrate the economy Central America more squarely into global markets.
The two institutions together with the Government of El Salvador, today hosted an international conference in San Salvador that focused on regional progress in trade facilitation, and identified areas where the World Bank and IFC can provide technical assistance to help firms increase trade, grow, and generate jobs in the region. Reforms proposed at the conference—called
Trade Logistics Facilitation across Central America
—included establishing an integrated risk-management system, creating of one-stop shops for trade operations, and strengthening human resources.
Participants in the conference included Alexander Segovia, Technical Secretary to the President of El Salvador, representatives of regional and international organizations, key governmental officials in the foreign trade area, and private sector representatives from Costa Rica, the Dominican Republic, El Salvador, Guatemala, Honduras, Nicaragua, and Panama.
During the conference, IFC and the World Bank representatives highlighted the key role of the public and private sectors in improving coordination to advance the trade agenda and support efforts to achieve greater regional integration.
Fabrizio Zarcone, World Bank Representative in El Salvador said: “Enhancing the efficiency of trade logistics is a critical priority for the World Bank, as it is key to attracting more investments and fostering opportunities for entrepreneurs to enhance future gains from trade and become more competitive. This is a great opportunity to help policy makers in a common reform agenda among participant countries.”
Alvaro Quijandria, IFC Regional Business Line Leader for the Latin America and the Caribbean region, said: “Improving the investment climate for businesses—especially for small and medium enterprises—and promoting regional integration continue to be top priorities for IFC. We believe that strengthening the environment for private sector investment remains the surest way to spur job creation and inspire sustainable economic growth.”
About the World Bank Group
The World Bank Group is one of the world’s largest sources of funding and knowledge for developing countries. It comprises five closely associated institutions: the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA), which together form the World Bank; the International Finance Corporation (IFC); the Multilateral Investment Guarantee Agency (MIGA); and the International Centre for Settlement of Investment Disputes (ICSID). Each institution plays a distinct role in the mission to fight poverty and improve living standards for people in the developing world. For more information, please visit
www.worldbank.org
, www.miga.org, and www.ifc.org.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, providing advisory services to businesses and governments, and mobilizing capital in the international financial markets. In fiscal 2011, amid economic uncertainty across the globe, we helped our clients create jobs, strengthen environmental performance, and contribute to their local communities—all while driving our investments to an all-time high of nearly $19 billion. For more information, visit
www.ifc.org
.
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