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Development procurement and the World Bank

The World Bank is a sister organisation of the United Nations and spends $42 billion a year helping the poorest people in the developing world, encompassing 171 countries. Effective procurement is critical to delivering projects, which range from rebuilding power supplies and creating flood defences, to investing in some of the largest transport infrastructure systems in the world. Key to the World Bank's work is building global procurement capacity so countries themselves get the most from their public procurement.

Procurement in the World Bank is complex and diverse, with fraud and corruption the single biggest challenge. Yet the Bank's procurement system has not changed since it was first established just after the Second World War. Hence the Bank is now going through a modernisation process to implement many of the processes and techniques which professionals in the developed world took on board 10-15 years ago, such as value for money decision making and supplier relationship management.

CIPS is now working closely with the World Bank to drive procurement reform and professional standards, and we were pleased to welcome Chris Browne, Chief Procurement Officer, to speak at our Australia Conference.

Take a look at the clip below or view the full speech.