THE WORLD BANK Procurement Regulations for Investment Project Financing Borrowers
Welcome to the World Bank Procurement Regulations for Investment Project Financing Borrowers (Regulations). Our vision is: “Procurement in Investment Project Financing operations supports Borrowers to achieve value for money with integrity in delivering sustainable development” The Regulations have been written to support this vision, and reflect the extensive feedback received from stakeholders involved in Investment Project Financing procurements financed by the World Bank. They are designed to support a modern, fit for purpose procurement framework.
The Regulations detail many options to tailor individual procurement processes to meet operational needs and deliver the right result. Borrowers using the Regulations spend billions each year procuring the works, services, or goods they need from third-party suppliers, contractors and consultants. Procurements under these Regulations happen in over 170 countries across the globe. They cover diverse locations and some challenging operating environments. Procurements range from highly complex infrastructure, cutting edge consultancy, major pieces of plant/equipment, high tech information technology, research and development, and critical supplies, to simple, routine goods and services.
Therefore, these Regulations must be practical, in all situations, to ensure the correct procurement approach is used to deliver the right results. The Regulations are guided by the following core procurement principles: value for money, economy, and integrity, fit for purpose, efficiency, transparency and fairness. In supporting the core procurement principles, the Regulations provide many choices for Borrowers to design the right approach to market. The Regulations also specify the rules that must be followed, so that it is easier, for all those involved, to understand the procurement process. Complementing the Regulations are a series of Standard Procurement Documents, Guidance, and a set of briefing, training and e-learning materials – all accessible through www.worldbank.org/procurement. Undertaking any procurement can be a challenging prospect. The World Bank is there to support its Borrowers as needed.
For more information please contact your local World Bank representative, or see www.worldbank.org/procurement. We wish you every success in using these Regulations, and look forward to supporting you to deliver your project development objectives.