IDB to host ‘Procurement Fair’ for private sector

IDB to host ‘Procurement Fair’ for private sector
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NASSAU, BAHAMAS – The Inter-American Development Bank (IDB) plans to connect local businesses with government ministries in its first Procurement Fair on Friday.

Local businesses will meet with officials from various ministries overseeing IDB Funded projects, according to a press release.

While the Procurement Fair will feature Government ministries, the IDB will highlight its significant $292 million portfolio of approved loans for projects with the Government of The Bahamas.

IDB Country Office Representative, Daniela Carrera Marquis said: “With this Procurement Fair, our hope is that more small, medium and large businesses, as well as individual contractors, would see that there are major opportunities for them to work on important projects.

“It is imperative that they get sound information to help them better compete for contracts on significant projects meant to move The Bahamas forward in meeting its future goals.”

Marquis said: “Our mission is simply to introduce the joint work of the IDB and the Government, while educating and guiding business owners through the competitive bidding process.”

“Businesses, consultants and freelancers will learn about available contractual opportunities with projects ranging in focus from strengthening the country’s coastal areas, to improving airport infrastructure and increasing efficient delivery of government services,” it read.

The event will be staged from 4pm to 8pm at the Baha Mar Convention Center.

Contract opportunities remain available for projects with the Ministry of Public Works and Transportation, Ministry of Finance, Ministry of National Security and the Ministry of Labour and National Insurance, the IDB said.

With extensive procurement procedures in place the IDB consistently works to reinforce impartiality, competitiveness, quality and value for money when awarding contracts.

The bank’s Country Strategy places priority on three core areas including “fostering an enabling environment for private sector competitiveness”.

The IDB looks forward to partnering with the Government of The Bahamas on future projects in order to provide additional opportunities for local private sector businesses and consultants.

The Procurement Fair is free and open to the public, with all interested individuals, vendors, contractors and businesses invited to register for the event via IDBBahamasEvents@iadb.org.

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