MercoPress. South Atlantic News Agency

Corruption: review panel points to World Bank “ambivalence”

WB President Zoellick agree with the report

An independent review panel has found that the World Bank has not considered fighting corruption seriously and has defended itself against efforts taken by anti-graft investigators.

The panel, headed by former Federal Reserve Chief, Paul Volcker, recognized and stressed that an attack on corruption should enhance the Bank-wide goal of facilitating economic development and reducing poverty in underdeveloped nations. The panel added that the Bank's Department of Institutional Integrity needs to play a central role in this regard. Volcker pointed out that the inquiry into the bank had found a "siege mentality" at the beleaguered institution, adding that the Bank viewed anti-corruption work with "ambivalence." Speaking to the press, Mr Volcker said the bank needed to address an ambivalent attitude "as to whether they really want an effective anti-corruption programme or not". The review of the organization comes in the wake of a forced resignation of its former boss, Paul Wolfowitz, who purportedly lost the confidence of bank employees after his alleged involvement in a pay raise and promotion package to his girlfriend, who was also a bank staffer. However Mr Wolfowitz maintained that his efforts to impose anti-graft standards were the real motive behind the successful campaign to oust him from the bank's top job. "This is an excellent and most useful report," World Bank Group President, Robert B Zoellick said in a press release. "The Volcker report makes clear the serious challenges ahead in overcoming the cancer of corruption in operations supported by the Bank, and it offers constructive recommendations. Now it will be up to all of us to move forward, as part of our on-going commitment to address this vital issue".