The World Bank has revealed the details of its 2012 promise to publish contracts online, following on from its procurement review (see Update 81). Bank managing director Caroline Anstey, announced at the June G8 meeting that from July the Bank will “publish all contract awards of World Bank Group-executed contracts above $250,000” and will “mainstream ‘open contracting’ in our new procurement policy.” There has been no statement from the International Financial Corporation (IFC, the Bank’s private sector arm) about whether its investment contracts will be included. The initiative is based on initially voluntary open contracting principles, including disclosure of subcontracting arrangements. It was developed by the Open Contracting Partnership, which includes Colombian procurement agency Colombia Compra Eficiente, Oxfam America and the government of the Philippines, and will work towards a global open contracting data standard.
In prioritising capital market expansion, the needs of the lowest income groups are not being effectively addressed through World Bank interventions.
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