Hiebert, Murray,
Stealing from the Poor. Murray Hiebert and John McBeth. - Far Eastern Economic Review, 2004. - SIRS Enduring Issues 2005. Article 18, Business, 1522-3191; .
Articles Contained in SIRS Enduring Issues 2005. Originally Published: Stealing from the Poor, July 29, 2004; pp. 14+.
"With billions of dollars pouring forth from the World Bank's Washington headquarters every year, anyone could be forgiven for wanting a share. The money trail of every bank-supported project is paved with opportunities to profit. The trouble for the World Bank and the countries that provide it with funds in its pro-development, anti-poverty lending mission: Not all those opportunities are legal. Local government officials skim money off the top as they distribute funds and award contracts; business owners pay them bribes, win contracts, inflate project costs and pocket the difference; and, though it happens to a much less degree, some bank officials themselves find ways to make a dishonest buck." (FAR EASTERN ECONOMIC REVIEW) This article reports that although "the World Bank has been fighting fraud since the mid-1990s," its critics, "given new voice in a series of U.S. congressional hearings going on now [July 2004], are arguing that the institution should be doing much more in the battle against corruption."
1522-3191;
World Bank
Bank loans
Banks and banking--Accounting
Economic development projects
Legislative hearings
Political corruption
AC1.S5
050
Stealing from the Poor. Murray Hiebert and John McBeth. - Far Eastern Economic Review, 2004. - SIRS Enduring Issues 2005. Article 18, Business, 1522-3191; .
Articles Contained in SIRS Enduring Issues 2005. Originally Published: Stealing from the Poor, July 29, 2004; pp. 14+.
"With billions of dollars pouring forth from the World Bank's Washington headquarters every year, anyone could be forgiven for wanting a share. The money trail of every bank-supported project is paved with opportunities to profit. The trouble for the World Bank and the countries that provide it with funds in its pro-development, anti-poverty lending mission: Not all those opportunities are legal. Local government officials skim money off the top as they distribute funds and award contracts; business owners pay them bribes, win contracts, inflate project costs and pocket the difference; and, though it happens to a much less degree, some bank officials themselves find ways to make a dishonest buck." (FAR EASTERN ECONOMIC REVIEW) This article reports that although "the World Bank has been fighting fraud since the mid-1990s," its critics, "given new voice in a series of U.S. congressional hearings going on now [July 2004], are arguing that the institution should be doing much more in the battle against corruption."
1522-3191;
World Bank
Bank loans
Banks and banking--Accounting
Economic development projects
Legislative hearings
Political corruption
AC1.S5
050