PUBLIC PROCUREMENT WORLDWIDE More than $13,000 billion spent annually.

According to the World Bank, over 13,000 billion dollars are spent annually on public procurement worldwide. The figure was announced at a training seminar on sustainable public procurement organized by the World Bank for senior public procurement officials from West and Central African countries, held in Dakar from April 22 to 26, 2024.

For West Africa as a whole, public procurement accounts for around 11.5% of GDP in the countries of the sub-region, or a total of some $80 billion spent each year on goods, services and works,
according to the Open Contracting institution. In Senegal, according to Arcop, public procurement represents an estimated budget of nearly 4,000 billion Fcfa.

Spent wisely, they represent an important economic lever for ensuring social well-being and sustainable economic growth. Over the past decade, governments have increasingly recognized the
potential of public procurement as a strategic catalyst for economic growth and social well-being.

During the seminar, it was emphasized that adopting a strategic approach that integrates economic, social and environmental issues into the public procurement process can offer significant benefits, in line with the UN’s sustainable development goals. This is fully in line with the World  Bank’s mission to eradicate extreme poverty and promote shared prosperity on a liveable planet.