Over half of companies breaching World Bank guidelines on fraud and corruption are British.
Accountability
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Panel claim in Ecuador
The Prodeminca mining project in Ecuador, officially called the Ecuadorian Mining and Environment Technical Assistance Project, involves a loan for $14 million that was approved in 1994.
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Kenyans reject new WB and IMF lending
The Stakeholders Support Group (SSG), formed by Kenyan opposition party members, lawyers and NGOs, is protesting against the resumption of IMF lending, saying that the government has not made the necessary reforms to stamp out corruption.
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Brazil land reform Panel request denied
The second Inspection Panel claim on the pilot phase of the Brazilian land reform project, commonly known as Cedula da Terra, was denied for reasons of eligibility of the requesters.
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IMF-WB corruption roles investigated
A new report from Christian Aid investigates how the policies of northern donors and international financial institutions encourage corrupt practices in developing countries.
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Bribes by companies in Bank-funded African project
A dozen major international dam-building companies involved in the World Bank-funded Lesotho Highlands Water Project (LHWP) have lavishly bribed a top official on the project, allegedly giving nearly US$2 million in bribes over ten years.
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IMF and Bank failed to spot Indonesia corruption
The International NGO Forum on Indonesian Development (INFID) has criticised the Bank and Fund for failing to properly supervise the use of loan funds which were intended to help refinance the shattered banking sector.
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Western banks in Russian corruption scandal
The FBI and US Congress are investigating allegations that the Bank of New York, the Republic National Bank and other Western financial institutions were involved in laundering IMF loans siphoned out of Russia by the mafia helped by top Kremlin officials.
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Politics before good policies in Zimbabwe
The IMF has agreed to lend US$7.32 bn to the Zimbabwean government despite continued concerns about corruption in the land reform process; the cost of supporting Zimbabwean troops in the Democratic Republic of Congo (DRC); a planned privatisation of the Hwange power plant; and the reintroduction of price controls.
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Bank develops “governance indicators”
On 1 July the Bank held an informal Board seminar to discuss “governance indicators”.