News Releases

ADB toughened measures to battle fraud and corruption in 2012, as complaints reached a new annual high.

Some 225 allegations of corruption or integrity violations were submitted to ADB last year, leading to 34 individuals and 31 firms being debarred from doing business with the organization, a new report shows.

Greater accountability and better fiscal management are needed to achieve more inclusive growth in developing Asia-Pacific nations, ADB President Haruhiko Kuroda said today.

ADB stepped up its fight against corruption in 2010 with the introduction of new initiatives, including revised integrity guidelines and a cross debarment agreement signed with development partners, a new report says.

Strong governance and constant vigilance against corruption are essential if Asia and the Pacific is to deliver the benefits of its economic boom to all, ADB President Haruhiko Kuroda told a forum today.

Taking a major step in the global fight against fraud and corruption, leading Multilateral Development Banks today signed an agreement to cross debar firms and individuals found to have engaged in wrongdoing in MDB-financed development projects.

ADB has implemented improvements to internal rules protecting those who report integrity violations or misconduct in ADB or in ADB-related activities.

ADB is extending a $250 million loan to restore the Philippines to a long-term sustainable growth path through greater fiscal discipline and an improved investment climate.

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.

ADB on 1 May kicked off a 90-day period for public comment on proposed improvements to its protections for those who report integrity violations and misconduct related to ADB or ADB-financed projects.

The Asian Development Bank and the Government of Afghanistan have forged a new Country Partnership Strategy 2009-2013 that retains a sharp focus on investments that will bolster the country's energy, transport, and irrigation sectors.

The Asian Development Bank imposed sanctions on 41 firms and 38 individuals last year as a result of its corruption investigations, according to a new report by ADB's Office of the Auditor General, Integrity Division.

Corruption in business transactions decreases competition, deters investment, and increases the cost of goods and services in the Asia-Pacific region.

The Philippines, with assistance from the Asian Development Bank, plans to implement new tax policy reforms that will include improved collection methods and better prosecution of tax evasion cases.

The Asian Development Bank has endorsed the Extractive Industries Transparency Initiative, which encourages governments to disclose their revenues, as well as companies to publicize their payments from oil, gas, and mining in order to promote transparency and fight corruption.