As countries sit on shaky foundations, tackling corruption in infrastructure is key
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Corruption exists in all sectors and its impacts are universally negative, but corruption in public infrastructure is particularly nefarious for low-income countries. Infrastructure accounts for a higher share of GDP and institutional structures may be less stable. Estimates of losses to bribery in construction, which lies downstream from procurement, are as high as 45 percent of construction costs.
With the COVID-19 pandemic putting immense health, social and economic strain to an already fragile global economy, mitigating corruption in infrastructure is now more critical than ever. As much as $3-4 trillion annually will be needed globally through 2030 to meet the infrastructure needs of the 1.2 billion people who lack electricity; the 663 million who lack adequate drinking water sources; the 1 billion who live more than two kilometers from an all-weather road; and the many millions who are
CoST MSG members visit Cocoavilla road in Takoradi 11th Dec 2020 | Source: GNA
The Multi-Stakeholder Group of the Infrastructure Transparency Initiative (CoST) of the Sekondi-Takoradi Metropolitan Assembly has paid a working visit to the Cocoavilla road under construction by Urban roads.
The road, a major link between the Effia-Kwesimintsim Municipality and Sekondi -Takoradi Metropolitan Assembly, was in a very deplorable state.
The Assembly, therefore, awarded it on contract some four months ago to improve upon transportation and the visit by the MSG of CoST was also to assess the level of work and whether it was being done according to specifications.