Washington, Dec 20 (IANS) Calling
corruption a "cancer" and vowing to clean it out globally in concert
with developed and developing nations, the World Bank has debarred two
Indian firms for alleged collusive practices in the Bank-financed
Reproductive and Child Health Project in the country.
The two firms, New Delhi-based Nestor Pharmaceuticals Ltd. and
Mumbai-based Pure Pharma Ltd., were debarred for a period of three years
and one year respectively after a sanctions hearing in fiscal year 2007,
according to a new Bank report.
The hearing followed approval by the World Bank Group Board of a broad
new set of reforms to the Bank's sanctions regime in fiscal year 2007
that will help ensure uniform compliance with the highest ethical
standards in all aspects of Bank-financed projects around the world, the
Annual Integrity Report said.
The World Bank's Department of Institutional Integrity (INT) also
undertook a Detailed Implementation Review or DIR of five projects
across the Bank Group's health portfolio in India, which is to be
completed and provided to the region in financial year 2008.
INT, the report said, has greatly increased its use of DIR, which is a
proactive diagnostic tool that uses forensic accounting and
investigative techniques to examine Bank projects in a given country for
indicators of fraud and corruption. INT completed two DIRs in fiscal
year 2007 in Kenya and Vietnam.
INT made significant contributions to the global fight against
corruption in fiscal year 2007, with a 25 percent increase in closed
investigations from the previous fiscal year.
It also launched a voluntary disclosure programme to deter
private-sector corruption, and reached agreement on a coordinated
approach to rooting out corruption among the international financial
institutions.
"Corruption is a cancer that steals from the poor, eats away at
governance and moral fibre, and destroys trust," said World Bank
President Robert B. Zoellick. "The challenge for the World Bank is how
best to diagnose, determine, and clean out corruption in concert with
developing and developed countries."
According to the report, "Improving Development Outcomes: Fiscal Year
2007 Annual Integrity Report", INT closed a total of 301 cases in fiscal
Year 2007 ended June 30.
These included both cases of fraud and corruption in Bank-financed
projects and cases of alleged staff misconduct, an increase of 60 cases
from fiscal year 2006. In addition, the total carryover of open cases
into fiscal year 2008 was 232, a decrease of 62 cases (21 percent) from
the fiscal year 2006 backlog and the lowest year-end total since fiscal
year 2002..
Click
here to send Gifts to India
|