Blockchain for Loans Disbursement Traceability (BLDT Platform)

CLOSING DATE AND TIME: JANUARY 17, 2022 @ 5:00 PM EST

The World Bank Group Finance and Accounting (WFA) Trust Fund and Loans (TL) department has a key mandate to effectively monitor disbursements made under Bank financed projects by implementing necessary controls and risk mitigation mechanisms as part of its overall fiduciary function. This is in response to a core fiduciary mandate which requires that the World Bank (Bank) make arrangements to ensure that proceeds of Bank loans are used only for the purpose intended. The Bank has a similar fiduciary responsibility for financing provided by donors (Trust Funds).

The Bank can track disbursed loan amounts to its borrowers and the borrowers’ reported project expenditures for each Bank financed project, however, has a scope to enhance the traceability to real-time on how funds are disbursed to project beneficiaries, whether it’s for eligible expenditures, access the supporting evidence real-time, and end-to-end visibility of disbursement flow. Also, The Bank aims to strengthen the transparency into the use of funds within the projects, and funds flow to suppliers, intermediaries, and final beneficiaries, etc. thus gaining real-time information on how the funds are used for project objectives.

The Bank intends to have a Blockchain platform to:
• Access to real-time information on how, when, and where funds are used for eligible expenditures throughout project implementation
• Increase traceability of funds across the entire disbursement chain from Bank through Borrowers and to final beneficiaries for more transparency and more trust
• Enhanced controls and risk management on use of funds 
• Ability to receive and provide granular details on how donor funds are spent
• Ability to provide assurance and confidence to Bank's member countries, donors regarding effective allocation and utilization of funds

The solicitation may be obtained by sending an email to the designated Category Manager, referencing the following information:
1. Solicitation Number
2. Company Name
3. Contact Person Name and Title
4. Address
5. Telephone Number
6. Fax Number
7. Contact's Email Address
A copy of the solicitation will be sent to organizations that have replied to and are eligible to receive this advertisement. All requests and questions regarding this solicitation shall be directed to the following designated Corporate Procurement Category Manager:

Narayanan Ramesh (nramesh@worldbank.org) / Roman Majtan (rmajtan@worldbank.org)