The World Bank Group debarred Minh Anh Construction Joint Stock Company for misrepresenting facts during a project bid in Vietnam.
Entries in World Bank Integrity Vice President (6)
The World Bank and other multilateral development banks (MDBs) fund more than $117 billion in projects each year. While not regulators, they have unique powers to investigate and punish companies for misconduct, like fraud and corruption, in the projects they finance.
Over the last year, we have reached several noteworthy milestones in the global fight against corruption. In the arena of fighting corruption in international development, two important milestones stand out as having paved the way for significant progress and in setting us on a course for our continued success in reducing the impact of corruption on the poor.
Within the network of investigators and prosecutors from over 130 countries known as the World Bank International Corruption Hunters Alliance, we feel optimistic about all that is happening to support our mission of ensuring that every development dollar is spent with integrity.
World Bank Group President Jim Yong Kim recalls the question Paul Volcker posed to a group of anti-corruption leaders assembled in Washington, D.C.: "If the World Bank doesn’t take the lead against corruption, who else is going to do it?"