Although best known as a lender and financier to developing countries, the World Bank group also spends more than $1 billion a year making sure that its own offices and operations run smoothly, which can offer opportunities to contractors.
Like any large business — the bank has a global staff of more than 15,000 people and 150 offices around the world — it has a long list of goods and services to procure, including office furniture, health insurance for bank employees, construction and consulting services.
To meet those needs, the development finance institution hires a range of consultants and contractors whose contracts are handled through a special corporate procurement unit. This work is separate from the institution’s procurement team working to support borrower countries and businesses procuring goods and services for projects financed by World Bank loans.
For more details, see our interactive Tableau dashboard explaining more of World Bank’s corporate procurement contracts.
The bank’s Corporate Procurement Policy Summary outlines the rules and regulations governing how the vendor community can do business with them. The institution offers three different types of contracts: fixed value contracts, indefinite delivery and indefinite quantity (IDIQ) contracts, and framework contracts. Where fixed value contracts are awarded up front against a set of predefined deliverables and with an agreed-upon price tag, IDIQs and framework agreements are more flexible and tend to specify fewer details at the time of signing, such as the terms of reference, award total and timeline.