The Inter-American Development Bank (IADB) has launched Procure+, a comprehensive reform of its procurement framework that could reshape how contracts financed by the bank are awarded across Latin America and the Caribbean (LAC). According to the official announcement from the IADB on March 14, 2026, the reform aims to strengthen transparency, increase competition, and improve the quality of procurement processes across the almost US$4.5 billion in projects that are financed by the bank across the entire LAC region.
For consulting firms, engineering companies, and technical service providers, this reform could lead to increased opportunities to participate in international tenders that are funded by one of the region’s most influential multilateral development institutions.
At the same time, the reform highlights the growing importance of visibility, strategic partnerships, and early access to information about donor-funded contracts.
Key Procure+ features include a minimum local labor requirement to ensure jobs and skills for the region, no matter who wins the contract; earlier engagement with markets to attract capable bidders; the wider use of quality criteria when making procurement decisions; stronger contract management; new digital tools to monitor procurement performance, as well as extended training and certification for procurement professionals.
The restructuring also strengthens transparency in procurement processes by requiring additional checks on beneficial ownership and potential conflicts of interest thus helping to protect public resources and ensure fair competition among bidders.
What is Procure+?
Procure+ is a modernization of the procurement system used by the IADB to manage contracts that are financed through its projects in the infrastructure, energy, health, digital transformation, and other sectors across the LAC region.
The reform aims to increase efficiency, strengthen transparency, and improve the competitiveness of procurement processes across IADB-financed projects.
These measures align the IADB’s procurement approach with the practices already used by other major multilateral development banks.
What this means for consulting firms and technical service providers
The reform could significantly affect the market for consulting and technical services financed by the IADB.
Higher-quality tenders
The IADB aims to increase the number of entities participating in procurement processes. This could create a more open market for consulting companies, engineering firms, and technical advisors with experience in development projects.
Greater emphasis on technical expertise
Procure+ encourages evaluation methods that place a stronger emphasis on technical experience, project track record, and implementation capacity.
Companies with proven experience in donor-funded projects may therefore have a competitive advantage in future tenders.
More international consortia
Many international consulting firms working on IADB-financed projects build consortia that combine global expertise with local knowledge.
Companies that already have a strong presence in Latin America and the Caribbean could increasingly position themselves as strategic partners for international firms seeking regional expertise.
Why visibility in the international consulting market matters
As development funding declines and international competition intensifies, it is becoming increasingly important for consulting companies to remain visible within the global development ecosystem.
Organizations that actively monitor donor-funded tenders and maintain visibility on specialized industry platforms are better positioned to:
- Identify relevant opportunities
- Analyze potential competitors and partners
- Join international consulting consortia
- Access contracts financed by multilateral development banks
Platforms such as DevelopmentAid allow consulting companies and technical service providers to track donor-funded tenders, identify potential partners, and increase their visibility among organizations working on development projects worldwide.
Preparing for the next wave of donor-funded contracts
Procure+ reflects the IADB’s broader efforts to improve procurement quality and widen participation in projects that are financed by the bank.
For consulting companies and technical service providers operating in Latin America and the Caribbean, staying informed about upcoming tenders, understanding market trends, and building strategic partnerships will be essential to benefit from the opportunities that this reform may generate.
Become a DevelopmentAid member today to be better prepared to participate in the next generation of IADB-financed projects.
