What principles guide ADB’s procurement?
- Economy: taking into account price and quality without adversely affecting the viability of the project.
- Efficiency: procurement processes are proportional to the value and risks of the required project outcome, taking into account implementation capacity, time constraints, and cost-effectiveness.
- Fairness: equal treatment of eligible bidders; equitable distribution of rights and obligations between borrowers and bidder; and credible mechanisms for addressing procurement-related complaints.
- Open competition: ADB’s preferred procurement approach, whenever possible, to maximize fairness in bidding.
- Transparency: relevant procurement information is made public in a consistent and timely manner: open reporting of procurement activity; and confidentiality provisions in contracts only where justified.
- Quality: procuring inputs and delivering outputs of appropriate standard in a timely manner to achieve the project outcomes, taking into account the context, risk, value, and complexity of procurement
- Value for money: obtaining optimal benefits through effective, efficient, and economic use of resources.
Video on ADB's new procurement framework