The IIC formalizes all procurement of goods and services in compliance with established internal procedures. Procurement operations at the IIC are classified into three main categories:
- Procurement Related to Loan Operations, Investment Projects, or Technical Assistance Programs - Procurement related to loan operations, investment projects, and technical assistance programs include all procurement activity relating directly to an IIC operation, project, financing program, investment, or technical assistance program, regardless of its source of funding (i.e., operating budget or technical assistance resources).
- Corporate Procurement to Meet the IIC’s Internal Needs - Corporate procurement involves the direct purchase of goods and contracting of services by the IIC for its internal operations, as well as the purchase or lease of property paid for pursuant to the IIC’s rules and procedures for corporate procurement.
- Human Resources-related Procurement - This category includes procurement other than corporate and project-related procurement, including but not limited to the hiring of outside translators, interns, fellows (including fellows hired under the IIC recruitment program FEP, pursuant to trust fund agreements), and outside legal services.
Applicable Principles and Standards
All procurement activities shall be conducted with a view to obtaining the best value for the Corporation in accordance with applicable standards, as established in the Code of Ethics for IIC Employees, the IIC Disclosure of Information Policy, and the IIC Operating Policy.
All goods and services to be procured directly with Corporation resources must originate in IIC member countries. Goods and services procured with trust fund resources must be from IIC member countries, except as otherwise provided in the respective donor agreement. The IIC’s Corporate Affairs Unit (CAF) may authorize exceptions to these two provisions depending on the needs of the Corporation.
Antifraud and Anticorruption Measures
The IIC requires that all bidders, contractors, consulting firms, and individual consultants adhere to the highest standards of ethics and integrity during the selection process and/or throughout the course of contract performance.
Conflict of Interest
A conflict of interest is any situation or event in which the direct or indirect personal and/or financial interests of IIC staff or consultants are or could potentially be in conflict with those of the Corporation, interfere with the performance of their duties, or induce them to act in a manner that conflicts with their responsibilities.