2. Procurement procedures
In order to ensure that the funds are used in the most economical and efficient way, the lending organizations, wishing to ensure that the most economically advantageous bid is selected, only finance projects that have been the subject of an international call for tenders, subject to any preferences given to national companies in the borrowing country.
2.1 IBRD loans and IDA credits
The World Bank's policy on the procurement of works financed by IBRD loans and IDA credits is set out in guidelines, the latest revised version of which dates from January 2011.
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Directives Passation des Marchés Financés par les Prêts de la BIRD et les Crédits de l'AID, World Bank, January 2011 (World Bank website).
Procurement policy and rules for projects financed by the European Bank for Reconstruction and Development, revised May 2010 (EBRD website).
Cotonou Agreement of June 23, 2000 (Official Journal of the European Communities No. L 317 of 15.12.2000)....
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