Report: ADB Banned 41 Firms in 2008

Some 41 firms and 38 individuals were sanctioned by the Asian Development Bank in 2008 due to allegations of corruption, a new

by the bank's Office of the Auditor General revealed. The report indicated that 74 percent of the 89 cases investigated in the previous year involved ADB-financed activities, while 18 percent involved the regional lender's staff members. The bank does not publish the list of firms and individuals that were investigated or sanctioned but shares it with ADB staff and other international organizations. Some 552 firms and individuals had been banned from working with ADB since 1998.

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