World Bank
The World Bank, an international financial institution that goes as far back as 1944, presents another opportunity for individual firms to export a service overseas in a more open and transparent manner. Projects funded by the World Bank are also organized by countries and themes. Some of the relevant themes include, but are not limited to, economic policy, finance, human development and gender, and private sector development. Projects take place in more than 170 countries around the globe, excluding Andorra, Cuba, Liechenstein, Monaco, and North Korea. In FY2018, the World Bank budgeted US$10 billion on 1,600 projects in 132 countries, in which most of the funds went toward transport followed by water, sanitation, and waste.
International Development Finance Corporation (IDFC)
The Washington, D.C.-based IDFC replaced the long-standing Overseas Private Investment Corporation (OPIC) in December 2019. The IDFC builds upon and expands OPIC’s mission to invest in foreign infrastructures, as well as provide aid in the areas of female entrepreneurship, human rights, and labor rights in more than l60 countries around the world. In sum, the goal of the IDFC is to provide solutions to promote development, as well as support U.S. foreign policy and national security objectives.
According to the IDFC website, organizations can begin the investment process through the same site. In 2020, as a response to the global health pandemic caused by COVID-19, the IDFC issued a Call for Proposal in the areas of health, as well as information technology and communications, in eligible countries worldwide.
U.S. Department of State
The State Department offers grants to businesses to provide services in overseas markets. The website includes detailed information about the awards process and the awards that are available in a variety of areas such as education and technology. Additionally, the State Department may fund projects that are a collaborative effort with other organizations worldwide. For instance, the La Idea Incubator Project is funded by the State Department and emphasizes enhancing entrepreneurship and job creation throughout the Western Hemisphere. Furthermore, the project places a special emphasis on trade promotion between the United States and the Central American region. The project emerges from a collaborative effort between the International Business Innovation Association (INBIA) and the Regional Center for the Promotion of MSMEs (CENPROMYPE).
