SPONSORS

SPONSORS

Procurement reform at the World Bank – global consultations launched

 

OTHER NEWS AFFECTING PROJECTS & PM

Project management experts have opportunity to influence bank reform for development projects

4 August 2014 – Washington, DC, USA – Following the endorsement by Executive Directors of a new direction for the procurement of goods and services under World Bank-financed projects, the Bank is launching global consultations on the proposed reforms that will be held from August through November 2014.

140804-pmwj26-procurement-IMAGE“We want procurement in Bank operations to support clients to achieve value for money with integrity in delivering sustainable development,” said Kyle Peters, Vice President of Operations Policy and Country Services at the World Bank (pictured).

At the center of the new procurement approach is decision-making based on value for money. When considering bids, the World Bank will take into account pre-defined non-price attributes, such as quality criteria, in addition to the price. 

“The objective of the procurement policy review is to make procurement more fit for purpose and equip the World Bank to better respond to client needs, while at the same time ensure that World Bank funds are used with the highest integrity and for the intended purposes,” said Stefan Koeberle, Director for Operations Risk Management at the World Bank.

The new framework also introduces sustainable procurement, the use of procurement systems other than the World Bank’s, engagement with strategic suppliers, and a streamlined and more efficient approach to procurement complaints that will be centrally monitored and tracked. “We’re making World Bank procurement fit for the future,” said Christopher Browne, the World Bank’s Chief Procurement Officer.

The World Bank is inviting all interested stakeholders to review the proposed procurement framework and submit comments through a dedicated consultation website.

The comment period is open from August through November 2014. The World Bank will arrange to meet with shareholders and stakeholders from September through November to discuss the proposed new policy framework in detail. The World Bank will revise its proposal taking stakeholder feedback into account and will present a final policy to Executive Directors in 2015. Implementation is expected for mid-2015. 

The World Bank Group is one of the world’s largest sources of funding and knowledge for developing countries. It comprises five closely associated institutions: the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA), which together form the World Bank; the International Finance Corporation (IFC); the Multilateral Investment Guarantee Agency (MIGA); and the International Centre for Settlement of Investment Disputes (ICSID). Each institution plays a distinct role in the mission to fight poverty and improve living standards for people in the developing world. For more information, please visit http://www.ifc.org/, http://www.worldbank.org/, and http://www.miga.org/.

Since 1947, the World Bank has provided financing for more than 11,000 projects in over 100 countries. To learn more about past and current IBRD projects, visit http://web.worldbank.org/WBSITE/EXTERNAL/PROJECTS/0,,contentMDK:21790401~menuPK:5119395~pagePK:41367~piPK:51533~theSitePK:40941,00.html

 

Source: The World Bank