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Governance

Leaders of UN, World Bank, IMF Discussing Sustainable Development with Finance Ministers

Rachel Kyte's picture

This year, the World Bank’s spring meetings are offering a rare opportunity for the heads of the United Nations, the World Bank Group, and the IMF to jointly talk to finance ministers from around the world about the critical importance of inclusive green growth and careful stewardship of the Earth’s natural resources.

The venue is a breakfast meeting this morning with over 30 national finance ministers. The meeting will be private – and powerful. We’re hoping for an open and frank discussion among ministers on how to achieve concrete outcomes at the UN Conference on Sustainable Development, Rio+20, in June.

Getting to Sustainable Development, Inclusively and Efficiently

Rachel Kyte's picture

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Sustainable development is built on the triple bottom line: economic growth, environmental stewardship, and social development - or prosperity, planet, people. Without careful attention to all three, we cannot create a sustainable world.

In the 25 years since sustainable development was coined as a term, there has been progress, but the pathway to sustainable development must now be more inclusive green growth.

Fighting Corruption: Making Development Work

Leonard McCarthy's picture

 


The World Bank has a clear vision:  A world free of poverty.  When integrity prevails, projects deliver and the poor benefit.  When they fail, development is set back and the poor suffer. That‘s why at the World Bank, we take the position that Rule of Law equals Development.  In the Bank’s pursuit of results, openness and accountability, we assert integrity in our operations, without reservation.  At the heart of our strategy is a commitment to remove the conditions that dent international security and make corruption flourish.

Bank calls for citizen empowerment, governance in Middle East

Angie Gentile's picture


Speaking today ahead of the World Bank-IMF Spring Meetings, Bank President Robert Zoellick said the crisis engulfing the Middle East and North Africa shows that greater citizen participation and better governance are crucial for economic development. The World Bank will do more to emphasize both, he said.

Balancing individual and corporate accountability for corruption

Recently, many in the community concerned about international corruption have begun to discuss the need to hold individuals responsible criminally for their actions.  While people have long discussed the failure to hold high-profile bribe recipients responsible, now the discussion has mutated to the bribe payer side.  Lower-level targets are certainly more easily prosecuted than the rich and powerful.  After all, corruption, like most crimes, is committed by people, not by companies, machines or cultures.  Some countries, most notable the U.S., have brought an increasing number of cases against individuals directly involved in paying or authorizing bribes.

If money is the root of evil, are developed countries doing enough about the problem of bribes paid in the developing world?

It is a fact that many of the countries which suffer the most from corruption are the countries which have the fewest resources to combat the problem.  Poor countries may be faced with a dilemma of using resources to prosecute the corruption which degrades the quality and quantity of public goods that reach their citizens, or using resources to provide those basic goods, such as food aid and roads.

At the same time, larger bribes are not infrequently paid by outsiders, such as foreign corporations.  Casual observation shows that funds must be coming from outside some of the poorest countries.  In short, the bribe money is flowing from the developed world into the developing world.  

Timely information to meet enforcement deadlines: How can we meet the standards?

Simon Robertson's picture

I would like to follow up on Paul’s interesting comments on information sharing and the need in particular for timeliness.  He raises a number of issues on when to share information and this is where I would like to come in.  My background relies on information sharing across disciplines, be they units in the Bank or wider afield to other agencies such as Multi Lateral Development Banks (MDB) with their own integrity/investigations function or to law enforcement.  And herein lies the difference between information managed by law enforcement when compared to that of the development community.  In our search for timeliness – often a crucial issue for law enforcement it is not so for the development community, and in some ways this is essential as it allows us to first evaluate the reliability of the source of the information and then question the validity of the information.  One may ask why we should do this, and the simple answer is – we must be able to satisfy ourselves that we have undertaken our own due diligence and are confident that the information we are providing will add value to the enforcement entity with whom we share the information.  For instance we may find that after questioning the source of the data we ascertain that the information is not known directly to the source it is in fact a regurgitation of information relayed to him/her by someone else – and therefore while our source may be good the validity of our information could be questioned.

Monitoring for Results: The next big step in managing corruption?!

Francesca Recanatini's picture

Courts must expeditiously, but fairly, adjudicate corruption cases, and the penalties imposed on those convicted must be sufficient to dissuade others from similar acts.  To ensure that anti-corruption laws are indeed being effectively enforced, governments need to monitor the enforcement process. 

Doing so can provide performance measures to inform and guide policy design and implementation.  These performance measures also serve as indicators of corruption.  In the short run, policy makers may not be able to do much to change these indicators, but  measures, focused on performance, can provide a country something more concrete to act upon, helping policy-makers to prioritize.

For example, if the number of completed corruption investigations in a particular country is low because of difficulty in obtaining evidence, it can identify changes in policy and procedures which expand or strengthen investigators powers and tools such as providing it with subpeona powers or access to financial records.

Stepping up prosecution of transnational bribery

The OECD Antibribery Convention requires parties to make promising, offering, or giving a bribe to an official of another government a crime. Although 38 countries have ratified the convention, Transparency International reports that as of the end of 2009 only seven are actively enforcing this provision. Another nine are making some effort to enforce it and have taken few if any steps to enforce the convention.

How can we compensate the victims of bribery?

Jean Pierre Brun's picture

In early 2009, the U.S.-based multinational Halliburton paid $579 million to the U.S. government to settle charges it had bribed Nigerian officials to win a contract.  In late 2008 the German telecommunications giant Siemens paid $1.6 billion in fines, penalties and disgorgement of profits to the German and American governments for bribing officials. 

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