The World Bank’s board of executive directors Tuesday approved "a once-in-a-generation" reform package for procurement in projects financed by the Bank.
Entries in World Bank (85)
Transparency International-USA along with Transparency International, Global Witness, the Open Contracting Partnership, Oxfam, Save the Children and 101 other organizations sent a letter to the World Bank Monday asking the Bank to collect and disclose the identity of all legal entity bidders on Bank-financed contracts.
Admittedly, we're surprised to write that headline several weeks after “tax day” in the United States. However, a common theme emerged during a recent World Bank Group program on tax evasion: there's currently an unprecedented level of enthusiasm, political will and momentum in support of combating global tax evasion and avoidance.
BOTA was the first foundation established to restitute assets associated with an FCPA prosecution to victims of corruption. What were its key lessons that could be relevant to future foundations established for the same purpose?
The BOTA Foundation surpassed most of the expectations that its founders had for it. BOTA was able to efficiently and effectively return more than $115 million (the original $84 million associated with corruption plus accrued interest frozen Pictet and Cie Swiss bank account) to poor children, youth and their families.
The background of BOTA Foundation was explored in previous posts. Starting with this post I would like to explain what BOTA actually did in its five and a half years of operation.
BOTA was the first foundation ever established as a result of an FCPA case, and the question explored in this post is how it was set up.
News leaked a couple of years ago that China was promoting establishment of the Asian Infrastructure Investment Bank. The AIIB will compete for project funding against the IMF, World Bank, and Asia Development Bank, all seen as being under the thumb of the U.S., Europe, and Japan.