- Financial Management
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Achieving project goals depends largely on the quality of the upfront project work that is undertaken during the design and planning stages. The Borrower is expected to consolidate all the agreements reached with the Bank during project preparation relating to the procurement of goods, works and services into a single document which is referred to as the Procurement Plan.
Businesses will be interested in the publication of Procurement Plans, as they set out the most effective procurement arrangements for meeting project objectives in compliance with the Bank’s Rules.
These plans are mandatory for Borrowers. They provide comprehensive data about project procurement activity, such as deadlines, value thresholds, contract descriptions, dates that procurement notices will be issued and any relevant AfDB's reviews of actions by Borrowers. Plans are prepared for an 18 month period, and updated by Borrowers, if required, every 12 months. The Borrower and the AfDB both publish these plans, as well as any subsequent updates.
What is the Procurement Plan for?
- helping the executing agency allocate resources, estimate workloads and execute procurement processes in line with the project needs
- enabling the Bank to supervise procurements financed from the loan or grant proceeds in an organized and systematic manner, and to monitor the project’s general progress, including all procurement-related activities
- keeping stakeholders informed of the business opportunities provided by the project, so as to promote competition