Arab Today, arab today adb sanctions 30 firms for corruption
Last Updated : GMT 18:13:02
Arab Today, arab today
Arab Today, arab today

ADB sanctions 30 firms for corruption

Arab Today, arab today

Arab Today, arab today ADB sanctions 30 firms for corruption

Manila - XINHUA

The Asian Development Bank (ADB) said in a report released Tuesday that it sanctioned 30 firms and 30 individuals for engaging in corrupt practices while implementing projects financed by the Manila-based lender last year. ADB said it also barred 324 entities from seeking ADB-financed contracts as part of a cross-debarment agreement it forged with four other multilateral lending institutions. The Office of Anticorruption and Integrity (OAI) of the ADB said it received "a record" 250 complaints and investigated 239 cases last year. OAI said the complaints ranged from fraud related to work experience, qualifications, and technical and financial capacities of consulting firms or consultants seeking work from ADB. This year, OAI said it will continue its awareness-raising programs to help ADB staff spot warning signs of corruption and fraud.

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