The Asian Development Bank (ADB) is taking the necessary steps to hold companies accountable for corrupt behavior.
[ADB] last year banned 40 firms and 22 individuals from working for the multilateral agency due to corruption, the Manila-based bank said today.
Since the bank began investigating corruption allegations in 1998 a total of 250 firms and individuals have been banned from working for the ADB, the bank’s Integrity Division said in its annual report.
Here is the latest annual report of the Integrity Division at the ADB. The fact that stuck with me, is that in cases of fraud and corruption initiated by the Bank a large number of leads comes from the staff (staff referrals constitute 57% of the total 565 investigations) – a reason to believe, as the report notes, that the ADB’s staff is aware of its corruption-related policies and, moreover, is committed to upholding them and acting ethically.
In related news, it looks like the World Bank is not doing enough to combat corruption, according to an April 2005 report released today. Here is the actual “Vaughn Report,” as it is known.
Published Date: February 13, 2006