World Bank Group Country Manager, Sahr Kpundeh, says public procurement is a vital component for a country, which links public needs with the private sector.
ZANIS reports that Mr Kpundeh adds that public procurement, is a powerful driver for development, adding that it provides goods and services to meet the country’s needs.
He noted that public procurement further strengthens social development and the local economy and can also boost investment in the country.
He stated that making up between 10 and 12 percent of the country’s GDP, transparent and accountable public procurement systems have the power to catalyse private sector development by opening up business opportunities, as well as improving the business and investment environment.
The World Bank Group Country Manager, said this in Lusaka today during a consultative workshop with the private sector, on enhancing the capacity of local contractors in procurement, with focus on the energy sector projects.
He observed that procurement is a vital part of any project, be it infrastructure, capacity building, privatization or energy sector reforms, irrespective of the source of financing.
And Mr. Kpundeh noted that since the World Bank is a development institution and not a commercial bank, it has a moral and legal responsibility to ensure that resources provided by the institution are used in accordance with the objectives of the loan or credit agreement.