![]() Successful firms track projects early in the project cycle, and maintain relationships with key IDB sector specialists and with Implementing Agencies in BMCs.įirms can also review project procurement contract award data to better understand their competition and find partners for potential project opportunities. While projects are being prepared, firms should consult IDB project pages, which include procurement plans and other project-related information. Firms should also consult the IDB’s Monthly Operational Summary (MOS) for the status of projects while they are in the IDB lending pipeline. Successful firms should first prepare a long-term business development plan by using publically available information including Country Strategies. Project procurement represents the majority share of procurement opportunities. The Executing/Implementing Agency is responsible for awarding the contract and is typically the buyer, rather than the IDB. The IDB provides an oversight role, and reviews the Borrower’s procurement procedures, documents, bid evaluations, award recommendations, and contracts to ensure that the procurement process is carried out in accordance with IDB procedures. Source: 2022 IDB Annual Report Project procurement The IDB Group has 48 members, 26 of which are BMCs which also hold 50% of the voting power on the IDB Board. Canada has been an active member and shareholder of the IDB Group since 1972, providing strategic guidance to support the Bank’s goals. The IDB’s goal is to improve lives in Latin American and the Caribbean, and its’ strategic areas of focus include social inclusion and equality, productivity and innovation, climate change and environmental sustainability, institutional capacity and the rule of law, and regional economic integration. IDB Lab is the innovation arm of the Bank that identifies technologies and early-stage entrepreneurial solutions for regional development, while mobilizing development financing, knowledge, and connections with multilateral stakeholders. IDB Invest is the private sector arm of the Bank that finances companies and projects that will spur sustainable development in the region. The IDB is the sovereign arm that provides low-cost loans, grants, credits and guarantees to its Borrowing Member Countries (BMC). The IDB Group is comprised of three institutions, the IDB, IDB Invest and IDB Lab. The Inter-American Development Bank (IDB) Group is the main source of development financing in Latin America and the Caribbean (LAC). International financial institutions and UN procurement.
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