By Breaking Belize News Staff (HP): The Belize Social Investment Fund (BSIF) has issued a strong response to allegations circulating on social media regarding the awarding of contracts under projects managed by the organization.
In a statement released on June 11, BSIF categorically rejected what it described as suggestions of favoritism, improper influence, or preferential treatment in the award of contracts. The organization also expressed concern over what it called inaccurate and misleading information that could damage public confidence in the institution.
According to BSIF, all procurement activities are conducted under strict guidelines established by international development partners and multilateral lending institutions. The organization emphasized that contracts above prescribed thresholds are awarded through open competitive tendering processes designed to ensure transparency, accountability, and equal opportunity for eligible contractors.
BSIF noted that procurement opportunities are publicly advertised and evaluated using predetermined technical, financial, legal, and administrative criteria. The Fund stressed that contract awards are based on responsiveness and value for money rather than the identity of bidders.
The organization further stated that its procurement processes are subject to multiple layers of oversight, including independent evaluation committees, management reviews, external audits, fiduciary assessments, and monitoring by development partners.
BSIF said these safeguards are specifically designed to prevent misconduct and ensure that public and development resources are utilized responsibly and transparently.
The Fund concluded by reaffirming its commitment to maintaining the highest standards of governance, fiduciary responsibility, and procurement integrity in all aspects of its operations.
The post Social Investment Fund defends procurement process amid social media claims appeared first on Belize News and Opinion on www.breakingbelizenews.com.
By Breaking Belize News Staff (HP): The Belize Social Investment Fund (BSIF) has issued a strong response to allegations circulating on social media regarding the awarding of contracts under projects managed by the organization. In a statement released on June 11, BSIF categorically rejected what it described as suggestions of favoritism, improper influence, or preferential
The post Social Investment Fund defends procurement process amid social media claims appeared first on Belize News and Opinion on www.breakingbelizenews.com.
