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Löger: IMF relocating to Vienna and World Bank expanding presence in the city Blümel - Major strategic success significantly and impressively strengthens and enhances status of Vienna as a business centre

"I am delighted that, in Washington, we were able to successfully bring to a conclusion the final details concerning expansion of the World Bank's presence in Vienna. With effect from June 2019, the Bank will see an increase of around 250 staff, its presence  in the city more than doubling within just one year," declared Austrian Finance Minister Hartwig Löger with satisfaction.

"The fixed establishment of a representative office of the International Monetary Fund (IMF) is equally an expression of the highest recognition given to the professional work which Austria has been providing for many years. Focusing on the 'Western Balkans and Southeast Europe', it is clear that Austria is in demand internationally as a bridge builder and enabler," added Minister Löger, who feels vindicated in his efforts to further strengthen Vienna's status.

Federal Minister Gernot Blümel described the move as "an immense strategic success" and stresses that "the result marks a significant and impressive strengthening and enhancement of Vienna as a business and financial centre. It sends a strong signal in relation to our country, and is above all a great opportunity for Vienna. The Austrian federal government's active strategic policy and commitment are clearly affirmed as a result."

For the purpose of finalising discussions on expanding the World Bank's presence in Vienna, Mr Löger met with a number of leading figures in Washington DC, including Philippe Le Houérou, head of the IFC (International Finance Corporation) and Kristalina Georgieva. Until the beginning of this week, Georgieva was acting as Interim President of the World Bank Group and, during the course of last year, visited Vienna on several occasions in connection with further expansion of the World Banks presence there. 

Mr Löger also held discussions with Ms Georgieva over her successor, David Malpass, previously US Under Secretary of the Treasury for International Affairs. The Austrian Finance Minister expressed his optimism to the effect that the existing excellent cooperation will continue under the new leadership; "I am convinced that we will continue our excellent and ever-expanding cooperation with the World Bank Group together with David Malpass, and am equally confident that he too will maintain the World Bank Group's commitment to multilateralism."