ADB Hosts Meeting of Joint ADB/OECD Anti-Corruption Initiative

MANILA, PHILIPPINES - Strengthening the independence and accountability of anti-corruption agencies is key to poverty reduction and sustainable development in the Asia and Pacific region, participants at an anti-corruption seminar in Manila heard on Wednesday.

Speaking at the "Regional Seminar on the Political Economy of Corruption", ADB Vice-President Ursula Schaefer-Preuss said that corruption remains a major impediment to development in many countries, with bribery alone totaling about $1 trillion globally every year.

Read the full news release.