As part of its efforts to advance the fight against fraud and corruption in the development projects it finances, the World Bank has said that it sanctioned 35 firms and individuals in fiscal year 2022.
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The bank, which stated this in a statement announcing the release of its “Sanctions System Annual Report for fiscal year 2022,” yesterday, disclosed that of the 35 affected firms and individuals, 32 were debarred with conditional release, making them ineligible to participate in project and operations financed by the institutions of the World Bank Group.
It added that three firms were sanctioned with conditional non-debarment, leaving them eligible, as long as they continue to meet certain agreed-upon conditions while under sanction.
The statement said that the institution also recognized 72 cross-debarments from other multilateral development banks (MDBs), while 30 World Bank Group debarments were eligible for recognition by other MDBs.
According to the statement: “The joint report of the World Bank Group’s Integrity Vice Presidency (INT), Office of Suspension and Debarment (OSD), and Sanctions Board, illustrates how in a time of increasingly complex global challenges and historic development support by the World Bank Group, the institution’s sanctions system was resolute in maintaining its anticorruption oversight of the institution’s development financing.”
“While our institution continues to provide historic levels of support around the world, it remains critical that these funds are used in a transparent and accountable manner and only for their intended purposes. We must be continually vigilant against corruption in the projects supported by the Bank Group,” noted World Bank Group President David Malpass in the report’s foreword.
“The offices that comprise the sanctions system work together to send a clear message: corruption has no place in development,” he noted.
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