Guidelines Procurement under IBRD Loans and IDA Credits
- Type: Convention
- Date of signature: 01/01/1999
- Place of signature: Washington D.C., USA
- Date of entry into force: N/A
What is it about?
The purpose of these Guidelines is to inform those carrying out a project that is financed in whole or in part by a loan from the International Bank for Reconstruction and Development (IBRD), or by a credit from the International Development Association (IDA), on the arrangements to be made for procuring the goods and works, including related services, required for the project. The Loan Agreement governs the legal relationship between the borrower and the Bank. The Guidelines are applicable to procurement of goods and works for the project, as provided for in the Agreement. Its provisions, which concern international bids as well as certain other financing instruments like national competitive bidding, shopping, direct contracting or procurement, aim to ensure that any money borrowed is directed towards the intended purpose.
Why is it relevant?
The acceptance of these directives is essential for states desiring to borrow from the World Bank. The institution does not finance expenses made in the name of calls for bids and for activities not conform to the Guidelines. The World Bank may cancel credits given for actions and activities that do not comply with these procedures.
The Guidelines of the World Bank, which date back to 1995, are subject to periodic updates (the last being in January 1999).
- UNCITRAL Model Law on Procurement of Goods, Construction and Services (New York, 09 December 1994)
- Agreement on Government Procurement (GPA), (World Trade Organization, 15 April 1994).