The World Bank works towards a future with a world free of poverty, providing financial and technical assistance to developing countries. In a recent blog post, they outlined 3 reasons that procurement has a key role to play in working towards their aims.

Effective procurement helps channel money where it’s needed

Often, when hospitals are waiting for drugs or teachers are waiting for textbooks, procurement is cited as the issue, holding up vital funds from being used. However, without transparent and efficient procurement in place, money can be misused.

Efficient procurement maximises what the budget delivers

Many countries in the developing world have adopted eProcurement for portions of their public spending, giving them control and consolidation that makes their budget work as hard as possible. What is needed is eProcurement process and technology to deliver it efficiently.

Fighting corruption builds public trust

Lack of transparency reduces public trust in spending. However, subversion and corruption is a problem affects many countries, not just those in the developing world.
When public procurement amounts to as much as 20% of GDP in some countries, it’s clear that getting these factors right is essential and makes a strong case for procurement reform. Giving people flexible tools that balance control and governance with the ability to operate more efficiently should be high on the agenda.