An international inventory of the evolution of public procurement

Healthy public markets can be the key to a much needed trillion dollar economy that could be used to support green, resilient and inclusive economies. Governments today spend around US $ 13 trillion on public procurement of goods, services and public works; yet, they also lose up to a quarter of that spending due to inefficiencies or short-sighted procurement practices. Pressures to improve procurement practices are likely to increase in the years to come as governments grapple with unprecedented debt levels, cuts in tax collection and growing income inequality. It is time to unleash the full potential of public procurement.

The World Bank’s new report “A Global Procurement Partnership for Sustainable Development – An International Inventory of Public Procurement Developments” offers a way forward. The synthesis report examines the potentially catalytic role of public procurement in supporting broader policy goals such as environmental stewardship, resilient and inclusive economic development, and social protection.

Join us for a conversation about how public procurement is key to putting the global economy on a more sustainable path and how a broad international coalition, involving governments as well as private companies, could help create an effective global system. that better meets the needs of the public through a comprehensive public procurement program.

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