The Inter-American Development Bank (IDB) has approved a $22.95 million loan to strengthen Ecuador’s National Public Procurement Service (SERCOP) and modernize the National Public Procurement System (SNCP). The initiative aims to improve the quality, efficiency, and transparency of procurement processes, enhancing the impact of public spending across the country.
The project adopts a comprehensive approach, focusing on organizational strengthening, strategic planning, and governance of the SNCP. It will enhance SERCOP’s ability to manage procurement based on efficiency, transparency, and value for money, optimize control functions and inter-institutional coordination within the National Control Subsystem (SNC), and implement digital transformation measures, including a new integrated technology platform and strengthened cybersecurity.
More than 13,500 state suppliers—including micro, small, and medium-sized enterprises, organizations from the Popular and Solidarity Economy, and individual entrepreneurs—will benefit from a more agile, transparent, and accessible procurement system. The project will also support over 8,600 contracting entities and SNC institutions, improving data exchange and coordinated oversight, including early detection of irregularities.
This operation complements a recent IDB loan to strengthen Ecuador’s Office of the Comptroller General (CGE), forming part of a broader agenda to enhance the quality, efficiency, transparency, and integrity of public spending. The loan will be granted under the Specific Investment Loan (ESP) modality, with a 25-year repayment term, a 5.5-year grace period, and an interest rate linked to SOFR plus a margin.
