Through its independent Integrity Vice Presidency (INT), the World Bank is significantly engaged with our MDB partners in our fight against corruption in development projects. Central to this engagement is the MDB Agreement for Mutual Enforcement of Debarment Decisions.
World Bank Boosts Anti-Corruption Efforts for Fiscal 2023 miragenews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from miragenews.com Daily Mail and Mail on Sunday newspapers.
Ignoring integrity risks in emerging markets when receiving financing from the World Bank Group (WBG) is about to become much riskier, as the WBG Sanctions System Annual Report for.
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In October, the World Bank Group (WBG) published its third
Sanctions System Annual Report for Fiscal Year 2020 (FY20), which covers the period from 1 July 2019 to 30 June 2020. The report provides a detailed look at the recent activities of the three units of the WBG s Sanctions System – the Integrity Vice Presidency (INT), the Office of Suspension and Debarment (OSD), and the Sanctions Board – and provides important insights into priorities for the coming year.
An overview of activities in FY20
The WBG s Sanctions System addresses allegations that firms and individuals involved in WBG-financed projects committed sanctionable practices. INT investigates these allegations in the first instance. If INT determines there is sufficient evidence to pursue sanctions, it may seek to negotiate a settlement with the accused or it may submit a Statement of Accusations and Evidence to OSD, the first tier of review in adjudicating whether to impose sanctions. OSD s sanctions decisions may