The total number of integrity investigations opened by the World Bank fell by 55 percent last year, a substantial decrease — even considering the $600,000 budget cut to the department as part of the bank’s reform process.
At the same time, preliminary inquiries dropped 21 percent, according to the 2014 annual update published Wednesday by the institution’s Integrity Vice Presidency, which looks into allegations of fraud and corruption in World Bank-financed projects and can debar companies from working with the bank for periods of time.
The report gave no reason for these and other reductions other than the well-known budget constraints. Emily Horgan from the International Finance Corp. noted: “There is complexity inherent in our process, which is why it’s not a perfect system … and why we are one of many mechanisms on the ground.”
About the author
Molly Andersmollyanders_dev
Molly Anders is a former U.K. correspondent for Devex. Based in London, she reports on development finance trends with a focus on British and European institutions. She is especially interested in evidence-based development and women’s economic empowerment, as well as innovative financing for the protection of migrants and refugees. Molly is a former Fulbright Scholar and studied Arabic in Syria, Jordan, Egypt and Morocco.