ADBs Anticorruption Policy is comparable to that of the World Bank. Did ADB develop its policy in conjunction with the World Bank or independently?
It is not by coincidence that ADB’s and the World Bank’s Anticorruption Policies are similar. ADB was the forerunner in promoting good governance when it adopted a Governance Policy in 1995. However, in 1997 the Group of Seven industrial nations (G7) issued a statement that dealt with combating corruption and financial crimes, and urged the Intentional Monetary Fund and multilateral development banks to strengthen their activities in fighting corruption. The statement further encouraged multilateral development banks to establish uniform procurement standards to ensure strong oversight of all facets of the procurement process, citing provisions introduced by the World Bank in 1996 in its procurement documents. ADB developed its Anticorruption Policy, approved in July 1998, independently of the World Bank. However, in view of the statements made by the G7, ADB formulated its policy with consideration of the standards incorporated into the World Bank’s comparable policy.
Related Questions
- ADBs Anticorruption Policy is comparable to that of the World Bank. Did ADB develop its policy in conjunction with the World Bank or independently?
- Why doesn ADB publicize the names of the firms and individuals it has debarred pursuant to the Anticorruption Policy?
- Does the Anticorruption Policy apply to ADB staff? What happens to allegations regarding staff?
