World Bank Bans Four Entities Embroiled in Fraud

A Ukrainian non-governmental organization, a Turkish firm and two individuals has been debarred by the

after they were found to be engaged in fraudulent activities in relation to projects funded by the Washington-based lender. "The outcomes of these cases demonstrate that the Bank is making significant strides in addressing fraud and corruption, which is especially important given the current economic crisis," World Bank Group Vice President for Integrity Leonard McCarthy said. The bank has debarred 355 firms and individuals since 1999.

About the author

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    Ma. Rizza Leonzon

    As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.