Public Sector Operations
Clients are responsible for implementing Bank financed projects, including all aspects of the procurement process from the planning stage through the award of contracts as well as the administration of the contracts themselves. The Bank may advise and assist clients in the procurement process and institutional development for specific projects and require provisions as a condition of financing, but it is not a party to the resulting contracts.
Private Sector Operations
For private sector operations, the Bank will encourage its clients to use procurement methods that lead to a sound selection of goods, works and services at fair market prices, and to make their capital investments in a cost effective manner. Businesses often achieve these aims by following established commercial practices other than formal international competitive tendering for their procurement.
Nevertheless, wherever appropriate, the Bank will encourage the use of international competitive tendering methods by such clients, particularly for large contracts. Careful procurement planning that takes into account the particular needs of the project is essential for the Bank’s evaluation and agreement. In operations involving private-public partnerships, the Bank will seek to review contractual arrangements and procurement procedures, according to the best practices adopted by the Multilateral Development Banks, as per the documents below.
- Annual Report 2015
- Basic Information Guidelines for an Operational Proposal
- BSTDB Long-term Strategy 2010-2020
- BSTDB Medium Term Strategy and Business Plan 2015-2018
- Corporate Governance Framework
- Doing Business with BSTDB
- Financial Intermediaries
- Operations Cycle Policy
- Portfolio Risk Management and Investment Policies
- Procurement Principles and Rules
- Questionnaire for Evaluation of Financial Institutions
- Regional Cooperation in the Black Sea
- Semi-Annual Financial Statements for 2016
- Supporting Small and Medium-Sized Business in the Black Sea Region
More key documents
At a Glance