World Bank’s new procurement system
In keeping pace with global trends, the World Bank last week unveiled a new
Procurement Framework to help its partner countries in South Asia that procure
goods and services under Bank-financed projects make the best use of their
public spending, strengthen their national procurement policies, and improve
their development objectives.
The new framework was introduced at an event, a joint initiative with the
Ministry of Finance held at MILODA - Academy of Financial Studies, in Colombo.
Sri Lanka, and presented by Felipe Goya, World Bank Manager for Solutions and
Innovations in Procurement for South Asia, and Robert Hunja, World Bank
Director, Governance Global Practice, in the presence of Priyanga Algama,
Director General, Public Finance, Government of Sri Lanka, public sector
officials, development partners, finance students, and World Bank staff.
The new Procurement Framework will allow the World Bank to better respond to the
needs of its client countries, while preserving robust procurement standards
throughout Bank-supported projects.
“We are committing to put our resources and energy to help our clients and
development partners to focus on outcomes rather than rules and procedures,”
said Hunja.
South Asia is pioneering the use of the more flexible, efficient, and
transparent procurement framework: the North Eastern Region Power System
Improvement Project (NERSIP) in India, which was approved by the World Bank
Board in July 2016, is the first project to follow the Bank’s new Procurement
Framework. Projects planned in Sri Lanka will soon be benefitting from the
policies of the new framework.
“Procurement in Investment Project Financing supports the clients to achieve
value for money with integrity in delivering sustainable development” said
Felipe Goya while detailing the 6 core principals governing the framework: value
for money, fit-for-purpose, economy, efficiency, integrity, transparency and
fairness.
The new Framework enables the Bank to work more closely with country partners in
improving their own procurement systems. Furthermore, under this framework,
clients can use the procurement arrangements of other multilateral development
partners or of national agencies in some circumstances.
The new Framework will include an online tracking and monitoring tool Systematic
Tracking of Exchanges in Procurement (STEP) to speed up procurement processes,
while promoting transparency and accountability and facilitate
procurement-related complaints.
The World Bank’s Board of Executive Directors initially approved this new policy
framework in July 2016. It governs procurement in Bank-financed projects in 172
countries worth about USD 56 billion.
This new Framework is a result of an extensive review and three-year
consultation process involving more than 5,000 people in 100 countries including
partner countries, CSOs, and private sector.
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