Guyana<\/p>\n
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Local public procurement officials are expected to benefit from critical training under a US$1 million Inter-American Development Bank (IDB)-funded project intended to modernize the country\u2019s procurement system.<\/p>\n
The IDB recently published a request for expression of interest seeking a consulting firm to provide a public procurement training programme that will certify government officials in three levels of public procurement expertise in an online format.\u00a0 The US$1 million loan falls under: Support to Fiscal Policy and Management in Guyana.<\/p>\n
Although it is a loan, IDB will be executing the project.<\/span><\/p>\n In its terms of reference, the IDB noted that Guyana is a small, resource-rich economy, which sustained positive economic growth for over a decade and is expected to be producing over 1.5 million barrels of oil per day, making it the third largest oil producing nation within five years.<\/p>\n The IDB said that Guyana\u2019s institutional framework has not been able to translate economic returns into improved outcomes.<\/p>\n \u201cTo be able to manage such resources effectively, the country needs a modern and efficient public procurement system,\u201d the IDB said. The IDB noted that while Guyana has made improvements over the last few years, in terms of institutional arrangements, there is a need to deepen procurement capacity and capability to achieve fuller objectives of fairness, transparency, and best value for money.<\/p>\n