The Bank provides its customers with credit facilities along the following lines:
- It advances short-term credits to purchase equipment, finance investments of capital and satisfy the needs in the increase of working capital;
- extends credit lines up to the established limit should a necessity arise for recurrent borrowings;
- provides overdraft facilities to cover, as a rule, unforeseen expenses.
Procurement Rules for Projects
The Procurement Rules for Projects Financed by the International Bank for Economic Co-operation (the Rules) describe the methodology and procedures that the Bank’s borrowers may follow when procuring contractors for their projects financed by the Bank. The aim of the Rules is to ensure transparency and fairness of the procurement. The Rules are based on international best practices in the area of procurement, also followed by other international financial institutions.
In case a borrower is a resident of a European Union member state and is obliged to follow the national procurement legislation (for instance, if the borrower is part of the central or a local government, or is an entity owned by the government), it has a right to use these Rules in lieu of the respective national legislation. Such an option is set forth in Article 9.1 of Directive No. 2014/24/EU, which allows for an exception from the requirement to conduct procurement in accordance with national legislation in case the project is financed by an international financial institution.