Export Institute: World Bank to open representative office in Israel

Mr.Yechiel Assia director of The Israel Export and International Cooperation Institute told reporters last week that the World Bank opened a representative office in Israel.
 
According to Assia the representative office will provide the link between the World Bank with Israel's private sector.
 
Assia noted that the Israel Export and International Cooperation Institute will be the coordinating body between the bank and the public.
 
It is understood, however, that The World Bank will use the offices of the Export Institute, and will not have a representative in Israel in the near future.
 
It is believed that the opening of the World Bank representative office in Israel will increase by 30% a year the participation of Israeli companies in international tenders. The Export Institute Predicted that Participation of Israeli companies in international tenders will reach over $100 million this year.
 
Only eight to ten Israeli companies currently participate in World Bank tenders on a regular basis, including Tahal, Netafim ,Baran Group and Bateman Engineering. Assia noted that the World Bank international tenders in developing countries currently open to Israeli participation are estimated to be between $16.0 to $18.5 billion. He added that participation of Israeli companies in international tenders will grow this year by the 30% ($70 million in 2004 ).