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7 August 2014 | Will Green
An overhaul of the World Bank’s procurement processes has been given the green light by the organisation's executive directors.
Under the changes a one-size-fits-all methodology will be replaced with a more tailored approach, with procurement made more “fit for purpose”.
The new framework introduces sustainability, use of procurement systems other than the World Bank’s, engagement with strategic suppliers and a more streamlined approach to complaints.
Christopher Browne, the bank’s CPO, said: “We’re making World Bank procurement fit for the future.”
A consultation on the changes is now under way and runs until 14 November, while detailed discussions with shareholders and stakeholders will also take place before a final policy is presented to executive directors next year. Implementation is expected in mid-2015.
The bank has a procurement spend of £26 billion a year but its current procurement processes were established in the 1970s.
Stefan Koeberle, director for operations risk management, said: “The objective of the procurement policy review is to make procurement more fit for purpose and equip the World Bank to better respond to client needs, while at the same time ensure that World Bank funds are used with the highest integrity and for the intended purposes.”
Kyle Peters, vice president of operations policy and country services, said: “We want procurement in bank operations to support clients to achieve value for money with integrity in delivering sustainable development.”