Following a seven month trial, Canadian company Acres International was convicted on two counts of bribing an official to secure contracts for the Lesotho Highland Water Project, which received financing from the World Bank. This ruling contradicted an earlier World Bank investigation which dismissed corruption claims due to lack of evidence. “We expect the Bank to disbar Acres now that they have been found guilty of corruption on a World Bank contract,” said Ryan Hoover of the Berkeley based International Rivers Network. Other companies will be tried soon.
New BWP briefing offers critical gender analysis of World Bank lending instrument to borrowing countries.
At 75, the World Bank and IMF face a crisis of multilateralism in no small part of their own making as failed economic policies have resulted in skepticism of the international order they helped to create.
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