Procurement Principles | Asian Development Bank

Procurement Principles

Article 14 of the ADB Charter states ADB's operating principles. Those relating to procurement are

  • Source of Procurement
    Proceeds of a loan can be used only for procurement of goods and works supplied from, and produced in, member countries of ADB.
     
  • Economy and Efficiency
    To achieve economy and efficiency, contracts are to be procured through international competition unless other forms of procurement are more suitable and have been agreed upon between ADB and the borrower.
     
  • Fairness
    Procurement procedures must give member countries adequate, fair, and equal opportunity to compete for contracts.
     
  • Transparency
    Transparency is essential in the procurement process to achieve economy and efficiency and to combat fraud and corruption.