Multilateral Development Banks inaugurate tool for enhanced procurement transparency, credibility

The Heads of Procurement of the Multilateral Development Banks (MDBs), have collaboratively developed a comprehensive and user-friendly tool for enhanced transparency, credibility, and efficiency of procurement processes.

The African Development Bank (AfDB) said this in a statement issued on its website on Thursday.

According to the statement, the tool is meant for assessing electronic Government Procurement (e-GP) systems of partner countries.

“The tool is specifically designed for considering the procurement of goods, works or service contracts financed by MDBs through e-GP systems.

“It aims to determine whether e-GP systems meet the minimum requirements set by MDBs for their effective use.

“This assessment tool conducts a thorough review of procurement policies, procedures, and practices to ensure compliance.

“And it enables MDBs to evaluate whether e-GP systems fulfill the necessary criteria or if additional measures are required.’’

The statement said the tool was ideally complemented by the Methodology for Assessment Procurement Systems (MAPs) e-GP supplementary module for broader reform initiatives.

It said:“the effective utilisation of e-GP systems is critical for enhancing transparency, credibility, and efficiency of procurement processes.

“By consolidating procurement-related data and offering comprehensive insights, e-GP systems empower decision-makers in project preparation and delivery.