Africa and its Issues- Why Have We Ignored Africa? Message Board

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Strategies & Market Trends : Africa and its Issues- Why Have We Ignored Africa?

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To: Brumar89 who wrote (1022)	3/28/2009 10:24:09 AM
From: Peter Dierks	Read Replies (1) of 1267

World Bank Responsibility $500 million for companies suspected of corruption. MARCH 28, 2009 World Bank President Robert Zoellick has recently taken to calling on rich countries to pony up 0.7% of their respective stimulus packages, including $6 billion from the United States, for a bank "vulnerability fund" for the world's poorer countries. It's all part of what he calls, echoing President Obama, "the Age of Responsibility." We're all for responsibility, especially the kind that begins at home. So it's worth paying attention to the way the World Bank itself exercises responsibility in doling out contracts in its current $30 billion or so annual budget. A recent case in point concerns companies penalized by the bank for their involvement in a corrupt roads project in the Philippines, a story we first reported in 2007. The story looks at first glance like a rare World Bank anticorruption triumph, and we were impressed enough to congratulate the bank at the time. But it seems we were too ... Message 25529808

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