Encouraging corruption report from Asian Development Bank

Tuesday, 10 March, 2015

Encouraging transparency news direct from the Asian Development Bank (ADB) today, where the Office of Anticorruption and Integrity has released a new report on its increased push for preventive and proactive measures to counter corruption—good news for all business. It's accompanied by this rather cryptic crocodile, which we think is performing a symbolic guarding function, though we can't be sure. Perhaps new penalties have been introduced...

From the article:

The OAI’s 2014 Annual Report shows a sharp rise in requests to carry out integrity due diligence reviews—with the number of referrals up 73% from 2013. OAI’s integrity due diligence advisory function, now in its third year, emerged due to a rise in ADB’s equity investments, lending, and development initiatives involving the private sector, and an increased need for ADB to evaluate and minimize integrity and reputational risks in dealings with other entities.

“Detecting and preventing corruption beforehand is preferable to dealing with it after the fact,” said OAI Head Clare Wee. “However, investigations and related remedial actions, debarments and cross debarments will remain a mainstay and continue to be an essential feature of ADB’s holistic approach for fighting corruption.”

The number of new complaints for integrity violations, such as collusion or conflict of interest, in 2014 dipped slightly to 241 from the record level of 250 set the year before, with fraud allegations the dominant area of concern. Total complaints converted into investigations dropped to 84 from 92 in 2013, partly as a result of a more robust screening process, according to the report.

See more of the release here. The ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, it is owned by 67 members – 48 from the region.