Information on IFAD corporate procurement guidelines

The procurement activities of IFAD shall be conducted in a timely, effective and efficient manner in accordance with the principles below:

Best Value for Money: BVM is the optimum combination of technical and financial factors that shall be taken into consideration when conducting procurement.

Effective International Competition: best value for money is most transparently achieved through an open and effective competition, which brings market forces to bear, and allows for the direct comparison of different proposals.

Fairness, Integrity and Transparency: equal opportunities must be offered to all vendors. A fair process is free from favouritism, self-interest or preference in judgment, being impartial and incorruptible, and ensures visibility and openness in all transactions.

Interests of the Fund: procurement shall be used as a tool to add value to the Organization in fulfilling its goals and objectives.

Sustainability: the concepts of sustainable procurement and social responsibility is to be sought after by integrating requirements, specifications and criteria that are compatible and that favour the protection of the environment, promote social progress and support economic development, namely by seeking resource efficiency, improving the quality of products and services and ultimately optimizing costs.