Business Services Industry
BTG Helps Launch Global Investment Network for World Bank Group's MIGA
Business Wire, Oct 12, 1995
VIENNA, Va.--(BUSINESS WIRE)--Oct. 12, 1995--BTG, Inc. (BTGI-Nasdaq National Market) was selected by the World Bank Group's Multilateral Investment Guarantee Agency (MIGA) to develop the architecture and software for the agency's new electronic investment marketplace. The Investment Promotion Agency Network (IPAnet) is an Internet-based electronic marketplace designed to promote investment into emerging markets. IPAnet is designed to link all the players in the field of foreign investment through an online marketing, information, and communications network. When completed in 1996, IPAnet will offer global databases on foreign investment conditions, including information from 70 countries.
IPAnet was launched in Washington, D.C. on October 7 in conjunction with the annual meetings of the World Bank Group and International Monetary Fund. The IPAnet is the culmination of two and a half years of research and development by MIGA, which promotes foreign direct investment in developing countries and provides long-term insurance guarantees to foreign investors. With IPAnet, MIGA is adapting new technologies to help bring emerging markets into the world information economy.
Adnan Hassan, the World Bank Group/MIGA's Global Coordinator for IPAnet, said a free trial period of the network will begin on October 30. In 1996, as the system is refined and subscribers add databases, paid users will be offered specialized information relating to investment opportunities.
Hassan said BTG was selected to execute the IPAnet concept because of the company's experience in building Internet sites, secure networks, and multi-level data bases. "BTG's technical experts worked tirelessly to make the IPAnet launch a success. They were able to translate an extremely complex blueprint into a working model in a matter of months."
Cathy Yandel, Vice President and General Manager of BTG Information Systems, said "With IPAnet, the World Bank Group/MIGA has launched a new model for global investment. And they've designed their electronic marketplace so it can be expanded and enhanced as more investors discover its value. We look forward to working with MIGA as they continue building this innovative network."
BTG Internet Services has built Internet sites for clients such as the Economic Development Authority of Fairfax County, Virginia, and the Washington Technology newspaper. BTG, Inc. is an information technology company specializing in systems engineering and integration and the value-added reselling of hardware and software products. Its customers include commercial clients, departments of the U.S. Government, NATO agencies and countries, and state and local governments.
CONTACT: BTG, Inc.
(Editorial) Theda Parrish, 703/761-6581
or
(Investors) John Graham, 703/761-6675
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