IDB funding US$1M training project to modernise local procurement system
Guyana
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’s procurement system.
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. The US$1 million loan falls under: Support to Fiscal Policy and Management in Guyana.
Although it is a loan, IDB will be executing the project.
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.
The IDB said that Guyana’s institutional framework has not been able to translate economic returns into improved outcomes.
“To be able to manage such resources effectively, the country needs a modern and efficient public procurement system,” 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.
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