ADB Signs First Alternative Procurement Arrangement for Enhanced Procurement Efficiency

ADB Signs First Alternative Procurement Arrangement for Enhanced Procurement Efficiency

ADB Signs First Alternative Procurement Arrangement for Enhanced Procurement Efficiency

The FINANCIAL -- The Asian Development Bank (ADB) has signed its first Alternative Procurement Arrangement (APA) with the World Bank, allowing procedures on cofinanced projects to follow a single procurement framework.

Under ADB’s new procurement framework, the APA allows one bank to be the lead cofinancier on a project, and the procurement of all, or a portion of, the contracts under the project to follow the lead cofinancier’s procurement guidelines and procedures.

ADB is negotiating with other multilateral agencies to expand the number of cofinanced projects that will use similar arrangements. This will lessen the burden on executing and implementing agencies that have traditionally used multiple procurement frameworks on a single project and project implementation.