01643cas a2200229 a 4500 AALejournalIMF011546 230101c9999 xx r poo 0 0eng d 9781616353216 0145-1707 BD-DhAAL BD-DhAAL International Monetary Fund. External Relations Dept. Finance and Development, June 1975. Washington, D.C. : International Monetary Fund, 1975. 1 online resource (40 pages) Finance and Development <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper reviews the procurement process under World Bank projects. The paper highlights that the World Bank's interest in procurement under its loans stems directly from the 'project' requirement of its Articles, which stipulates that it should lend for specific projects, except in special circumstances, and that it should ensure that the proceeds of the loan are used only for its specified purpose, with due attention to economy and efficiency. In 1951, the World Bank began introducing international competitive bidding as the normal procedure for procurement of the goods and works needed for its projects. Mode of access: Internet Finance and Development; Finance and Development ; No. 0012/002 Full text available on IMF http://elibrary.imf.org/view/journals/022/0012/002/022.0012.issue-002-en.xml IMF e-Library