World Bank Joins Multilateral Development Banks to Declare a Shared Commitment to Sustainable Procurement

World Bank Joins Multilateral Development Banks to Declare a Shared Commitment to Sustainable Procurement

The World Bank has joined eleven other Multilateral Development Banks (MDBs) to release a statement reflecting their commitment to integrating sustainable procurement into their development operations.

MDBs are also committing to working with partner countries to implement national-level reforms in order to mainstream sustainability into domestic procurement activity.

Governments spend US$13 trillion annually -around 15% of global GDP- which highlights the important role public procurement will play in achieving global sustainability goals.

MDBs will work with partner countries to achieve a broad set of sustainability objectives, including achieving the goals set out in the Paris Agreement with a particular focus on decarbonizing supply chains, closing gender gaps and increasing inclusion.

A working group established between the development banks will work together on a number of initiatives, focusing on:

• Awareness building, outreach, and partnership
• Building a common approach and identifying opportunities for harmonization
• Training and development within the MDB community and for partner countries
• Monitoring and communicating impact