Tuesday, June 26, 2007

Mending Fences at World Bank


With the new President in place, let us hope that we do not lose the good things that were there with the previous President, the battle against corruption and for sustainability in all their projects.

Focusing on these issues were a part of the downfall of the previous President, as was his previous role in the US Defence Department.

Let us hope that the new President keeps hammering away at these two important elements, even though not all member countries will be happy about it or, more particularly, those government officials who benefit from a lack of transparency.

Robert Zoellick needs to ensure the World Bank´s activities are efficient AND clean.

Onésimo Alvarez-Moro

See article:
For years, rumors of corruption surrounded an ambitious World Bank project for a system of reservoirs and water tunnels in the mountains of Lesotho in southern Africa. In 2002, the project director was convicted of graft and sent to jail.

But it took the bank another four years to bar two engineering companies that were convicted on bribery charges from getting future contracts, during which time they collected $14 million in fees from the bank.

Combating corruption was a signature issue for Paul D. Wolfowitz in his two stormy years as bank president. Last year, he hailed the belated blacklisting of the companies on the Lesotho project as helping to ensure “that precious public resources go to help the poor, for whom they are intended.”

See full Article.