The World Bank and other multilateral development banks (MDBs) fund more than $117 billion in projects each year. While not regulators, they have unique powers to investigate and punish companies for misconduct, like fraud and corruption, in the projects they finance.
Entries in World Bank (102)
When top state or corporate leaders lay down goals, compliance may not always meet their intended aims. This is the case in China, where companies have been under increasing pressure from the central government to comply with rising standards in corporate social responsibility.
Historians may look back on 2016 as the year when the global anti-corruption movement took political center stage. Every day, we taste corruption’s bitter fruit in the form of instability, violence and a corrosion of trust that spans from government to sport.
The World Bank has publicly debarred or otherwise sanctioned more than 700 firms and individuals, according to an 80-page report released Friday.
Location: Washington, D.C.
Company: International Finance Corporation (IFC)
Background / General Description
The OP Jindal Global University, the Zicklin Center for Business Ethics Research of the Wharton School of the University of Pennsylvania, and the Anti-Corruption Law Interest Group of the American Society of International Law are organizing the first ever Conference of Business Ethics and Corruption in the Globalized World.
Over the last year, we have reached several noteworthy milestones in the global fight against corruption. In the arena of fighting corruption in international development, two important milestones stand out as having paved the way for significant progress and in setting us on a course for our continued success in reducing the impact of corruption on the poor.