For the last 50-60 years, there has been a largely common approach to procurement among multinational development banks. In this context, the World Bank has earned a successful track record. In response to the ongoing dynamic developments and challenges in the contemporary procurement environment that countries and the Bank now face, the institution has recognized that it is time to change.
The institution’s new Procurement Framework, coming into effect in July 2016, modernizes these processes. It introduces innovations that will enhance the efficiency, integrity and clarity of procurement in Bank-funded projects. The new system is designed to help client countries build sound procurement arrangements and get better development results.