THE CHANGES TO THE WORLD BANK’S PROCUREMENT POLICY AND THE IMPLICATIONS FOR AFRICAN BORROWERS
Keywords: public procurement, World Bank
AbstractIn 2011, the World Bank commenced the process of a comprehensive review and reform of Bank procurement policies and procedures, the first of its kind in the history of the Bank. The significance of the proposed reforms cannot be understated and they evince a step-change in the way the Bank has conceptualized and conducted procurement since its inception. The purpose of the reforms are to ensure that the Bank's procurement is fit for its purpose, is flexible, is in line with the modern practice of public procurement and can assist Borrowers to deliver on their developmental objectives. This paper examines the salient features of the reform agenda and highlights the implications of the reforms for African borrowers. It will be seen that the Bank desires to undertake a central leadership role in global public procurement and that it is putting sustainability at the heart of its reforms. It will also be seen that the Bank intends to provide more assistance to building the procurement capacity in its Borrowers to partly address the moral hazard that arises in Bank projects.
Articles & notes
Authors who publish with this journal agree to the following terms:
- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access).