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    Home»Banks»Asian Development Bank promotes innovation and efficiency to bolster anti-corruption efforts
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    Asian Development Bank promotes innovation and efficiency to bolster anti-corruption efforts

    Finance KhabarBy Finance KhabarApril 6, 2020No Comments2 Mins Read
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    Manila: The Asian Development Bank (ADB) is promoting innovation and efficiency to enhance its anti-corruption efforts by streamlining case management and expediting the assessment of complaints and completion of investigations, according to the Office of Anti-corruption and Integrity (OAI) 2019 Annual Report released on Monday.

    “We reassessed and rebalanced our resources to align with ADB’s long-term strategy, Strategy 2030,” said OAI Head John Versantvoort. “These measures have allowed us to provide better value to our stakeholders and achieve significant improvements in the number of completed investigations and complaints that we assessed and closed.”

    In 2019, ADB concluded 110 investigations into integrity violations, a 93 per cent increase from the previous year, and assessed and closed 219 complaints, an increase of 16 per cent. ADB debarred 69 firms and 62 individuals for violating ADB’s Anti-corruption Policy (1998 as amended since).

    It cross debarred 153 firms and 20 individuals sanctioned by other multilateral development banks. The imposition of other remedial actions against firms and individuals, such as reprimands and cautions, more than doubled from 2018.

    Strengthening governance and institutional capacity to improve service delivery in ADB developing member countries is one of seven operational priorities under ADB’s Strategy 2030.

    OAI conducted eight Proactive Integrity Reviews (PIRs) of ADB-financed projects in Afghanistan, Bhutan, Georgia, Indonesia, Kazakhstan, Myanmar, Nepal, and Palau. PIRs assess the application of sound financial management, procurement, and asset management practices by government agencies responsible for implementing ADB projects and recommend remedial measures for any shortcomings.

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