World Bank Increases Transparency
June 1st, 2012The Jubilee USA Network, of which the Missionary Oblates is a member, commends the World Bank for promoting an anti-corruption and anti-fraud position.
WASHINGTON, DC – The World Bank made an important move to promote transparency as they released this week’s sanctions board decisions on fraud, corruption and collusion cases. Jubilee USA commends the World Bank’s policy change to publicly disclose why they decide to sanction companies and individuals for corruption and fraud.
“This is a great move by the World Bank and everyone wins with this decision,” noted Eric LeCompte, Executive Director of Jubilee USA Network. “NGOs, businesses and governments can now better monitor patterns of fraud and corruption. Most importantly, the poor will benefit as this reporting further helps curb this behavior and ensures that resources are not stolen from the developing world.”
The sanctions board is an independent tribunal led by mainly external members and acts as the final decision-maker in all contested cases of World Bank funded projects. Historically, the World Bank only disclosed summaries of past board decisions but this new change in policy will give an in-depth review of every appeal and the logic behind deciding where misconduct occurred and what sanctions should be administered.