WASHINGTON — The Inter-American Development Bank (IDB) Board of Executive Directors approved a loan of $22.95 million to strengthen the capacities of Ecuador’s National Public Procurement Service (SERCOP) and advance the modernization of the National Public Procurement System (SNCP).
The project will drive a comprehensive transformation of public procurement with the goal of improving the quality, timeliness, and transparency of procurement processes, thereby increasing the efficiency of public spending. To achieve this, the program includes an integrated approach that encompasses strengthening the organization, strategic planning, and governance of the SNCP; enhancing SERCOP’s capacity to manage procurement based on principles of efficiency, transparency, and value for money; optimizing control functions and inter-institutional coordination within the National Control Subsystem (SNC); and implementing digital transformation measures, including the development of a new integrated technology platform and strengthening cybersecurity.
The project will benefit more than 13,500 state suppliers, including micro, small, and medium-sized enterprises, organizations from the Popular and Solidarity Economy, and entrepreneurs, by providing a more agile, transparent, and accessible procurement system. It will also support over 8,600 contracting entities in managing purchasing procedures more efficiently, as well as SNC institutions, which will improve their ability to exchange and use data for coordinated state oversight, including early detection of irregularities.
This operation is directly linked to a recently approved IDB loan to strengthen Ecuador’s Office of the Comptroller General (CGE), a key SNC entity. Both initiatives are part of a comprehensive agenda aimed at improving the quality, efficiency, transparency, and integrity of public spending in Ecuador.
The loan will be granted under the Specific Investment Loan (ESP) modality, with a repayment term of 25 years, a grace period of 5.5 years, and an interest rate based on SOFR plus a margin.
About the IDB
The Inter-American Development Bank (IDB), a member of the IDB Group, is devoted to improving lives across Latin America and the Caribbean. Founded in 1959, the Bank works with the region’s public sector to design and enable impactful, innovative solutions for sustainable and inclusive development. Leveraging financing, technical expertise, and knowledge, it promotes growth and well-being in 26 countries. Visit our website: https://www.iadb.org/en.
Recalde Rosero,Cristina
