IDB Invest handles all procurement of goods and services in compliance with established internal procedures.
Procurement operations at IDB Invest fall under three main categories:
1. Procurement Related to Loan Operations, Investment Projects or Technical Assistance Programs – This includes any procurement activity related directly to an IDB Invest operation, project, financing program, investment or technical assistance program, regardless of its source of funding (that is, operating budget or technical assistance resources).
2. Corporate Procurement to Meet IDB Invest’s Internal Needs - Corporate procurement involves the direct purchase of goods and contracting of services by IDB Invest for internal operations, as well as the purchase or lease of property .
3. Human Resources-related Procurement - This category covers other procurement, including but not limited to the hiring of outside translators, interns, fellows (including those hired under the recruitment program FEP , pursuant to trust fund agreements) and outside legal services.
Principles and Standards
At IDB Invest, we seek to obtain the best value in all our procurement activities. We follow the standards established in the Code of Ethics for IIC Employees, the IIC Disclosure of Information Policy and the IIC Operating Policy.
All goods and services to be procured directly with IDB Invest resources must originate in IDB Invest member countries. Goods and services procured with trust fund resources must be from IDB Invest member countries, except as otherwise provided in the respective donor agreement. IDB Invest’s Corporate Affairs Unit may authorize exceptions to these two provisions, depending on the needs of IDB Invest.
Anti-fraud and Anti-corruption Measures
IDB Invest requires that all bidders, contractors, consulting firms and individual consultants adhere to the highest standards of ethics and integrity during the selection process and throughout the course of contract performance.
Conflict of Interest
It is critical to avoid any conflict of interest in the procurement process. A conflict of interest is any situation or event in which the direct or indirect personal or financial interests of staff or consultants are or could potentially be in conflict with those of IDB Invest, interfere with the performance of their duties or induce them to act in a manner that conflicts with their responsibilities.