International Competitive Bidding


Also found in: Medical, Acronyms, Wikipedia.

International Competitive Bidding

A system the World Bank uses to reduce the risk of the loans it makes. It requires borrowers to advertise the project a loan is funding in an international language and to accept the lowest (reasonable) bid from subcontractors. Agreeing to abide by international competitive bidding is a condition of borrowing from the World Bank.
References in periodicals archive ?
The rehabilitation of the Mona and Hope water treatment plants, and Darling Street Sewage Pumping Station have been tendered by International competitive bidding but require the replenishment of the financing in order to finance these works.
He said RPPs were taken in a transparent procedure for which advertisements were floated in the world through international competitive bidding.
Summary: National Establishment for Air Navigation (ENNA) launched Saturday a restricted national and international competitive bidding for the study and execution of air navigation complex in Tamanrasset (1970km south of Algiers) as part of the airspace development and management plan (PDGA).
7 million for CLI's Radiance videoconferencing systems and multipoint units and was received under International Competitive Bidding of the General Procurement Notice of the UN Development Forum Business Edition.
Financial browser ?
Full browser ?