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Performance-based contracts: Promoting quality road maintenance and economic efficiency
Traditional road construction contracts have been in use for many decades despite a significant drawback: they are based on the amount of work executed, which can create the wrong incentive for some contractors to maximize profits by inflating the volume of work. Furthermore, construction contracts don’t take long-term maintenance into account, which can result in […]
Performance Based Financing: Inspiring new approaches to Public Financial Management in Health and Education
Performance based financing (PBF) links funds or payments to service providers to results achieved and gives them considerable autonomy in the use of these funds. The strategic approach is appealing to many individuals and organizations as it motivates them to perform better and channels resources directly to the frontlines. This in turn fosters greater accountability. Using […]
The hidden $1 trillion: Halting waste in public procurement
The global economic downturn is restricting the ability of governments to “build back better” in the face of the extraordinary challenges of COVID-19 and climate change. The decline in growth is shrinking nations’ fiscal space as they attempt to reignite their economies while grappling with unprecedented levels of debt, reductions in tax collection, and increasing […]
Gender and equality in public procurement
Small and Medium Enterprises (SMEs) and women-led SMEs (WLSMEs) play critical roles in economic growth and development. However, the share of public procurement contracts that are won by SMEs, especially WLSMEs, remain low. Only 1% of the $11 trillion spent annually on public procurement is awarded to women-owned businesses. View Blog
Government accounting at crossroads: Emerging opportunities during COVID-19
Government accounting and financial reporting are at a crossroads today. Providing information on how much cash is received into treasuries and paid out for goods, services and transfers is not enough. Stakeholders are demanding more accountability and engagement in public finances. Governments are spending large sums of money to tackle the health emergency and to […]
NOBEL PRIZE FOR BEHAVIOURAL ECONOMICS & PROBLEMS IN PROJECT PROCUREMENT
Dr. Ajit Patwardhan World Bank approved Professional trainer and International Consultant in Infrastructure Development & Contract Management Introduction: This year, the Nobel Prize for Economics, has been awarded to Prof. Richard Thaler of Chicago University, for his contribution to Behavioural Economics. In the press statement, the Royal Swedish Academy of Sciences described his […]
How to Reduce Fear of Discretion in Public Procurement
Lessons Learnt from Procurement and Contracts Management of Large and Complex Contracts Financed by Multilateral Development Banks (MDBs): A Procurement Practitioner’s Perspective Devesh C. Mishra and Belita Manka 1 Introduction: This paper seeks to analyze the impact of fear of discretion in procurement and contracts management of large and complex contracts in MDB financed projects. […]
Imminent! Transformation of the World Bank’s Procurement Framework
Robert Hunja Director, Public Integrity and Openness In keeping with recent global trends in the procurement arena, the World Bank is transforming and modernizing its procurement framework. In the private sector, companies have long viewed maximizing of supply chains as key to healthier bottom lines. In the public sector, many governments have been moving from […]
World Bank pushes for open tender system
Felipe Goya Goddard, – Governance Practice Manager for the South Asia Region at The World Bank, speaks to The Sunday Times in Sri Lanka about open tender systems, open data, and its benefits for the efficient working of Governments in developing economies. A World Bank governance expert warns that the absence of open tendering for […]
Procurement has a “seat at the high table” in Australia
Kalesh Kumar Capacity Building Coordinator South Asia Procurement The World Bank In April 2015, I coordinated a World Bank PIO South Asia sponsored Procurement Knowledge Exchange Program for heads of Procurement from South Asian countries to Australia. We visited Australian Commonwealth Government, Canberra; Government of Australian Capital Territory, Canberra; Government of Victoria, Melbourne; and Government […]
