Caribbean Development Bank working to build transparent public procurement capacity in the CARICOM region

The Barbados-based Caribbean Development Bank has announced the creation of a Regional Procurement Center that aims to improve the efficiency and transparency of public spending across its borrowing member countries (BMCs).

The Center will provide high-quality, relevant, accredited education for procurement professionals in the Caribbean, which is tailored to the specific needs of the Region.

The Caribbean Development Bank (CDB) has committed financing up to US$137,875 and an estimated additional US$45,895 in “in-kind” resources, such as staff time, to the project, which will be delivered under the Program for Improved Public Investment Management through Sustainable Public Procurement Capacity Building in the Caribbean Region.

“Improving public procurement is essential to sustainable development and good governance. There has been some notable progress in reforming public procurement policies within the Caribbean Community (CARICOM) and the Caribbean Development Bank is pleased to support that momentum through the Regional Procurement Center. It will provide robust training and help guide our borrowing member countries toward reforming their public procurement systems,” said Douglas Fraser, Head of Procurement at CDB.

During the World Bank’s 2015 Caribbean Project Implementation Workshop, held June 8-11, 2015 in the Dominican Republic, Fraser shared with participants and sought feedback on the plans for the Center, which will initially focus on supporting public sector procurement professionals.

A medium-term business plan is included in the project to help make the Center a commercially viable institution, sustainable beyond the initial funding from the regional bank.

A rigorous process to select a regional entity that will “house” and run the Procurement Center and a procurement consultant to support the regional entity in developing the Centre and initial training is in progress. The Regional Procurement Center is scheduled to commence operations in 2016.

These organizations will work closely together and seek feedback from key regional stakeholders to ensure the Center and its training align with their needs. CARICOM will be a key project partner to ensure the services offered complement its work to develop a regional procurement framework and protocol.