Paul Volcker, the former chairman of the US Federal Reserve, is to head an independent review into the controversial unit at the heart of Paul Wolfowitz’s anti-corruption drive at the World Bank.
Mr Volcker, who led the inquiry into the United Nation’s Iraq oil for food programme, will examine the conduct and procedures of the bank’s department of institutional integrity, known internally as INT.
The unit, headed by Mr Wolfowitz’s ally Suzanne Folsom, is pursuing allegations of corruption involving both bank staff and outsiders involved in bank-financed projects.
Under Mr Wolfowitz, the unit’s funding has increased significantly and it has conducted an aggressive series of investigations. Executive directors representing the bank’s shareholder governments demanded an independent review last year following claims by staff that investigators were ignoring due process in their efforts to uncover evidence of wrongdoing at the bank.
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