ADB Signs First Alternative Procurement Arrangement with Wolrd Bank

  • The Asian Development Bank (ADB) has signed its first Alternative Procurement Arrangement (APA) with the World Bank, to put in place a single framework that will make co-financed projects more efficient.
  • Under ADB’s new procurement framework, the APA allows one bank to be the lead cofinancier on a project, and the procurement of all, or a portion of, the contracts under the project to follow the lead cofinancier’s procurement guidelines and procedures.
  • The APA is a step further towards reducing procurement timelines in line with Strategy 2030.

Points to remember:

  1. Full form of APA?
  2. ADB has signed its first APA with?
  3. Strategy 2030 is of?- ADB