Competition is the fundamental principle of good procurement practice. Open, transparent and fair procedures for awarding public sector contracts for procurement of goods, works and services help to create dependable and stable market conditions for private enterprises. They also form the basis for establishing accountability and encourage the cost-effective use of public funds, a matter that is of concern for NEFCO, its owners as well as its countries of operation.

Projects financed by NEFCO afford procurement opportunities for suppliers, contractors and consultants in relation to goods, works and services.

Procurement guidelines

The Procurement Guidelines adopted by the Board of Directors of NEFCO are applicable as of 12 December 2013 and replace the Procurement Guidelines from 1998 and the internal Procurement Instruction of 1 May 2004.

The Procurement Guidelines from 1998, adopted in November 1998 and revised in October 1999, are applicable if so agreed in NEFCO financing agreements entered into prior to 12 December 2013, when the present NEFCO Procurement Guidelines entered into force.