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At the same time, roads projects around the globe remain plagued by fraud, corruption, and collusion. A Transparency International poll ranked construction as the industry most prone to corruption and a survey of international firms revealed that companies in the construction industry were more likely than firms in any other sector to have lost a contract because of bribery. World Bank-financed projects are not immune. Roughly one-fourth of the 500 plus projects with a Bank-funded roads component approved over the past decade drew one or more allegations of fraud, corruption, or collusion; to date, the Bank’s Integrity Vice Presidency (INT) has confirmed allegations in 25 projects resulting in 29 cases of misconduct under Bank rules.
Originally posted by jimmyx
i guess it's too much to ask that a representative of the IMF monitor each road project. some right-out-of-school accountant majors might like to have that job. since this is not done, then this is just a sham way of absconding with funds being done by contruction firms on the take. at least 25% of them anyway.