The World Bank has a new, modern and business-friendly Procurement Framework. This modernized approach means greater focus on value for money, more ways bidders to differentiate bids, and more opportunities for dialogue and discussion.
World Bank procurement staff are based in 72 countries to support borrowers throughout the procurement process. Staff work with governments to achieve the highest bidding and contract management standards to get the best development result.
Under the new procurement framework, there are four key innovations to help businesses and country clients:
- Needs and risks of a project are analyzed through a Project Procurement Strategy for Development (PPSD). This analysis enables the borrower to have a strategy on how best to engage with bidder. The analysis will ensure that procurement processes are fit for purpose, allow choice, and are appropriate to the size, value, and risk of the project.
- Value for Money has been introduced as a core procurement principle in all procurements financed by the World Bank. This means a shift in focus from the lowest evaluated compliant bid to bids that provide the best overall value for money, taking into account quality, cost, and other factors as needed.
- The approach to resolving procurement-related complaints has been significantly improved with capacity to promptly respond to any concerns during the procurement process. A standstill period has been introduced - a pause between identifying who should win the contract and actually awarding them the contract so that other bidders can voice any concerns before a contract is actually legally formed and awarded.
- The World Bank will be more involved in contract management of procurements with high value and high risk to ensure the best possible outcomes and that problems are resolved quickly.
For access to Policy, Regulations, Guidance Notes and Standard Procurement Documents (SPDs), please visit the World Bank official website for Project Procurement from the link below: