Multilateral Development Bank Enforcement: Investigator, Judge and Jury

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Multilateral Development Banks (“MDBs”), like the World Bank or African Development Bank, are international institutions, set up by nation states to provide financial assistance to developing countries to promote economic and social development. They predominantly lend support to governments and public bodies for projects in jurisdictions and sectors perceived to be high risk from a corruption perspective. In an average year, they lend around USD 190bn across the main MDBs but in times of economic crisis, this figure can exceed USD 200bn. It is not surprising then, that they have substantial apparatus in place for investigating and sanctioning what they term “prohibited practices” in connection with projects they fund – fraud, corruption, collusion, coercion or obstruction at any stage in the bidding for or delivery of the project. And over recent years they have become more active and effective in rooting out and sanctioning wrongdoing.

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