The Heads of Procurement (HoP) of the twelve Multilateral Development Banks (MDBs) in their recent meeting held in Manila, Philippines have pledged their commitment to promote sustainable procurement. A joint statement issued on October 4, 2023, by the 12 MDBs, recognizes the crucial role of global public procurement, which amounts to over USD13 trillion annually, in achieving the Sustainable Development Goals (SDGs).
The statement asserts the significance of developing tools, building capacity, adopting common approach, and enhancing outreach & partnership that maximize chances for re-building better; also laying groundwork through sustainable procurement practices for a prosperous, socially inclusive, gender responsive, and just green transition.
The HoPs have affirmed their support for the Global Climate Change Agenda and the goals of the Paris Agreement and Greenhouse Gas Protocol. The MDBs, meanwhile, have agreed to undertake efforts toward enhancing awareness, communication, and partnerships. A joint Working Group on Sustainable Public Procurement (SPP) has been established to prepare an action plan for environmental, social, and economic sustainability outcomes and a measurement framework.
The MDBs HoP network was established over 20 years ago to harmonize operational policies and practices for the purpose of enhancing economy, efficiency, effectiveness, and fairness across all financed operations by the MDBs namely, ADB, AfDB, AIIB, BSTDB, CDB, CEB, EBRD, EIB, IADB, IFAD, IsDB, and the World Bank.
About AIIB
The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank whose mission is financing the Infrastructure for Tomorrow—infrastructure with sustainability at its core. We began operations in Beijing in January 2016 and have since grown to 109 approved members worldwide. We are capitalized at USD100 billion and Triple-A-rated by the major international credit rating agencies. Collaborating with partners, AIIB meets clients’ needs by unlocking new capital and investing in infrastructure that is green, technology-enabled and promotes regional connectivity.
