BearingPoint wins economic development work in Cyprus

BearingPoint Inc. has won a three-year, $10 million contract from the Agency for International Development (AID) to assist Turkish Cypriots in improving their business practices, the company announced today.

Under the task order contract, BearingPoint of McLean, Va., will work to improve the business environment for Turkish Cypriots and will help increase the quality of banking over the contract period.

BearingPoint will work with Cypriot firms to increase both on-island and international trade by developing and strengthening supply-chain links, implementing product and service standards, and training small enterprises on how to develop marketing and operations strategies.

In addition, BearingPoint will use its banking experience to assist Turkish Cypriots in adopting and applying banking practices that will help the business community grow. The company also will help Turkish Cypriot banks comply with European Union and international banking regulations, as well as train banking professionals in best practices.

The project complements continuing AID-financed grants and other donor programs that focus on strengthening the quality and quantity of contact between Turkish Cypriots and Greek Cypriots. The overriding goal of the project is to help create a climate that will support the reunification of the island.

BearingPoint ranks No. 24 on Washington Technology's 2005 Top 100 list, which measures federal contracting revenue.