The Multilateral Development Banks’s (BMD) Heads of Procurement (HOP) took part in its 19th annual meeting, with the aim of harmonizing the principles, policies and procurement practices of their institutions, facilitating the co-financing of projects, as well as releasing guidance by experts on issues on key procurement issues.
In order to undertake improvements in the movements of the economy, efficiency, effectiveness and equity in all BMD-financed operations, this year's summit, held in Luxembourg, had the participation of AfDB HOPs, AsDB, AIIB, BSTDB, CBD, CABEI, CEB, EBRD, IsDB, WB and the IDB.
The conversation highlighted the growing adoption of framework agreements between different BMDs, as well as the agreements signed between some of them and FIDIC for the use of their General Conditions, especially in reference to integrity and safeguards.
Similarly, efficiency was a central issue, for the use of information technologies set to reduce deadlines and the promotion of transparency and monitoring is key. Especially in an environment of need of attention in the preparation and supervision of projects, for which training the executing agencies is paramount.
Finally, like the IDB, several MDBs are developing procurement tools for innovation partnerships, where suppliers, in collaboration with the borrowing country, are expected to create and ensure real scale implementation of innovative products that are not readily available in the market.
The next meeting of this nature will be organized by the Asian Development Bank in Manila (Philippines), at the end of spring 2020.
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María Eugenia Roca
Press contact:
Ms. Valeria Pacheco
Mr. Antonio Villar
About the IDB
The Inter-American Development Bank is devoted to improving lives. Established in 1959, the IDB is a leading source of long-term financing for economic, social and institutional development in Latin America and the Caribbean. The IDB also conducts cutting-edge research and provides policy advice, technical assistance and training to public and private sector clients throughout the region.
The VI Forum of Government Accounting of Latin America-FOCAL and the X Forum of Government Treasuries of Latin America was held in Brasilia from August 21 to 23, 2019.
The summit gathered representatives of the Treasury and General Accounting of Argentina, Bolivia, Brazil, Chile, Colombia, Costa Rica, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Panama, Paraguay, Peru, Dominican Republic, Uruguay, Representatives of the Inter-American Development Bank, World Bank, International Monetary Fund, IFAC, IPSASB, INTOSAI, Secretariat of the National Treasury of Brazil, Federal Accounting Council, Institute of Independent Auditors of Brazil.
Innovation and technology in the implementation of international standards and good practices of public financial management were among the main topics discussed during the meeting. So it was the impact on the fiscal statistics of the countries, in order to promote transparency and accountability on the use of public resources in the region.
In addition, the first book of Government Accounting in Latin America by FOCAL was released with the support of the IDB and the University of Sciences of Zurich, Switzerland, stands out.