The Policy sets out Bank Policy governing procurement activities financed by IPF, the Bank’s support to Borrowers in the area of building procurement capacity, and other operational procurement matters.
This Policy sets out a vision, the key principles, and policy requirements governing the procurement of goods, works, non-consulting services, and consulting services financed by the Bank (in whole or in part) through IPF operations, excluding procurement under Bank guarantees and under Bank-financed loans made by eligible financial intermediaries, for which the final recipient of loan funds is a private borrower.
This Policy applies to the Bank - IBRD and IDA.
Procurement in world bank investment project Financing
Phase ii: the new procurement framework
This paper presents a modernized Procurement Framework (Framework), with a recommendation for Board approval, following endorsement by the Committee on Development Effectiveness (CODE) and the Audit Committee (AC). The development of this Framework—a once-in-a-generation systematic reform and culture change—has been informed by extensive global consultations with governments, private sector, trade bodies, Civil Society Organizations (CSOs) and Non-Governmental Organizations (NGO’s). Balancing the task of maintaining the Bank’s fiduciary assurance and delivering sustained development outcomes, the Framework reflects the agreed vision: "Procurement in Investment Project Financing supports clients to achieve value for money with integrity in delivering sustainable development."