World Bank impose strict regulations for fertilizer imports - Report

COLOMBO (News 1st); According to a report published by Sunday Times, a senior Agriculture Ministry official says Sri Lanka opened international competitive biddings for fertiliser imports with strict regulations imposed by the World Bank to ensure a fraud-and-corruption-free process.

The report says, in terms of the World Bank guidelines, contractors and sub-contractors are required to permit the World Bank team to inspect records, accounts and other documents relating to the procurement process and audited by auditors appointed by the WB.

The report adds that tenders have been called for the procurement of 125,000 Metric Tonnes (MT) of urea for the upcoming Maha season utilising funds allocated under the USD 350 million emergency financing facility offered by the World Bank.

The Sunday Times report says, accordingly, USD 110 million from the total World Bank-funded Emergency Crisis Response Programme is to be allocated for the procurement which is to be delivered in five consignment slots ahead of the Maha season and is scheduled to begin on September 15.

The report says the bidding is to be conducted through the International Competitive Bidding Procedure (ICB) under guidelines compiled with National Procurement guidelines along with specific directives from the World Bank to ensure a fraud-and-corruption-free process.

Source: Sunday Times