Doubts have been raised over the efficacy of World Bank anti-corruption efforts. A recent Wall Street Journal article claims that some firms remained on the Bank’s books even whilst under investigation. for collusive bidding in a Phillipines road project which was halted in November 2007. In the wake of the Stayman case (see Update 64) US-based NGO Government Accountability Project (GAP) has criticised “the persistent difference between the disclosure regulations for project and loan vendors and the Bank’s own internal contractors.” It concludes that the breach “is inexplicably wide” and argues that the Bank needs to apply the same disclosure standards to its internal contracts as it does to project and loan finances.
In prioritising capital market expansion, the needs of the lowest income groups are not being effectively addressed through World Bank interventions.
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