The Caribbean Development Bank (CDB, the Bank) and its partners are ramping up efforts to strengthen procurement capacity across the region.


Public procurement is being enhanced through ongoing sectoral engagement and most recently, the successful staging of a four-day procurement fair in Belize, which was led by CDB.


The event was aimed at unlocking greater economic opportunities for the public and private sectors through improved engagement in public procurement.


Hosted in collaboration with the Ministry of Economic Transformation (Belize), the Central American Bank for Economic Integration (CABEI), the Inter-American Development Bank (IDB), and the World Bank, the event ran from June 30 to July 4.


It brought together public officers, business owners, and entrepreneurs to increase awareness and build technical knowledge of procurement laws, standards, and best practices.


“An estimated USD 11 billion is spent on public procurement annually in the Caribbean,” noted Doug Fraser, Head of Procurement at CDB. “This provides significant contracting opportunities for the Region’s private sector and helps drive economic growth. It is essential to ensure that potential suppliers, contractors, and consultants are aware of our contract opportunities and suitably positioned to bid for them; given that the resulting competition drives innovation and ultimately improves value-for-money for recipients of CDB financing.”