Procurement Opportunities The World Bank Group is a multilateral lending agency consisting of four closely associated institutions:
IBRD: The International Bank for Reconstruction and Development lends funds to creditworthy developing countries with relative high per capita income. Loans are made only to governments or to agencies that can obtain a guarantee of the government.
IDA: The International Development Association provides assistance on concession terms to the poorest developing countries that are not sufficiently creditworthy for IBRD financing.
IFC: The International Finance Corporation promotes growth in developing countries through support of the private sector. It invests in commercial enterprises by means of loans and equity financing in collaboration with other investors. Unlike the IBRD and IDA, IFC does not require government guarantees of repayment.
MIGA: The Multilateral Investment Guarantee Agency’s purpose is to encourage foreign investment in developing countries by providing guarantees to foreign investors against loss caused by non-commercial risks.
The operations of IFC and MIGA do not offer direct procurement opportunities. IBRD and IDA offer procurement opportunities.
The borrower, not the World Bank is responsible for procuring goods, works, and services. However the Bank ensures that the agreed procedures are followed and that the process is conducted with fairness and impartiality.
Tips on Getting World Bank Contracts
- Find out what projects are in the pipeline and begin closely tracking those projects where your goods or services might be needed. The bank finances more than 200 new projects each year in a wide variety of fields. Projects carried out involve an estimated 30,000 individual contracts each year.
- Decide where your company has the best chances of winning Choose from among the hundreds of projects and countries and focus your efforts on those where, because of past experience, language, trading partners, or other factors, your company is likely to have a comparative advantage over other competitors.
- Obtain bid documents as soon as they are available from the implementing agency. If needed local, U.S. Embassies can assist.
- Pay special attention to the requirement for bid security, performance security, or guarantees and arrange with your bank or other institution to produce exactly what is required.
If you do not win, analyze the reasons, learn from your experience and modify your approach accordingly for your next bid. Bid again! You have to compete in order to win.
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