BERLIN, June 26 -- Transparency International issued the following news release:
Transparency International today welcomed the World Bank report on debarments and suspensions which showed that in the past six years there have been 224 cases demonstrating that the institution takes a clear line against fraud and corruption at its projects.
"The World Bank's sanctions process is critical to eradicate fraud, corruption and collusion from the projects it finances," said Huguette Labelle, Chair of Transparency International.
Transparency International encourages the World Bank Group to continue this work and devote more resources to ensuring that corruption does not disrupt development.
Transparency International also welcomes the report because it displays greater transparency and openness about all of the bank's activities, including its sanctions process.
Finally, a stronger focus on prevention would help avoid the stage where the sanctions process is needed.
Transparency International is the civil society organisation leading the fight against corruption
Correction: In the press release titled "World Bank debarments and suspensions play important role in fighting corruption", the first paragraph should read ... there have been 224 cases... and not ... more than 650 cases. We regret the error. The version above is correct.