The overall vision of the new policy is for Procurement in IPF operations that supports
borrowers achieve value for money with integrity in delivering sustainable development. Read More
The World Bank's new Procurement Framework was approved by World Bank Board on July 21, 2015 to modernize the procurement policy and maximize the strategic role of procurement in achieving key development effectiveness goals.
Mandatory for all lending operations after July 1, 2016, the new Framework emphasizes flexibility, quality, and greater value for public spending, while enabling adaptation to country contexts....Read more
The new Procurement Framework reflects the views, knowledge, and expertise of a wide range of stakeholders from across the globe. The Bank can now offer a more modern and nimble procurement system to help promote sustainable development.
— Hart Schafer, World Bank Vice President for Operations Policy and Country Services
With this modernization of the procurement system, the Bank looks forward to working together with its partner countries to strengthen efficiency in public spending and to strengthen procurement systems around the world. This will help assure that public resources are being well used, and countries can better deliver critical services such as education, health, and infrastructure.
— Deborah Wetzel, Senior Director of the Governance Global Practice, The World Bank
When the World Bank finances many of the projects across the globe, the major portion of our funding goes to private contracting. Predominantly for infrastructure, health, education, etc. In that context, it's important for us to think about the governance aspect of the procurement because many of the factors that affect the final output depend on those.
— V S Krishna Kumar, Practice Manager, Solutions and Innovations on Procurement Group, Governance Global Practice, The World Bank