To emphasize free competition among bidders, JICA has not agreed to the idea to disclose the estimated price for the contract before the bidding. However, some Borrowers and International Financial Institutions have recently come to require the disclosure of the estimated price in view of valuing maximum transparency in the process. Although JICA dose not encourage the disclosure, if the Borrower wishes to disclose the estimated price before the bidding, JICA may not oppose the Borrower’s position.