World Bank Board endorses new governance, anti-corruption plan for operations

The World Bank’s Board of Executive Directors on March 27, 2012 endorsed the institution’s updated governance and anti-corruption strategy and implementation plan as an integral part of its operations.

The plan, known as “Strengthening Governance, Tackling Corruption: the World Bank Group’s Updated Strategy and Implementation Plan”, is expected to improve development effectiveness, reduce poverty and promote economic growth.

In a statement, the Bank said the plan “will focus on increasing and systematizing governance and anti-corruption work in country and sector programs; strengthening country institutions; better measuring results from programs and policies; managing risks; supporting governance in global initiatives; and improving the organization of the Bank’s internal resources for governance work.”

“Our updated strategy will help build those institutions for better governance around the world. The Bank’s country-driven approach will be supported by global initiatives against anti-corruption and malfeasance,” said Linda Van Gelder, World Bank Director for Public Sector and Governance.

The update builds on the successes and lessons learned from the 2007 strategy, Strengthening World Bank Group Engagement on Governance and Anticorruption (GAC), in order to meet the challenges presented by fundamental changes that have happened around the world since then, the statement said.

It adds “in particular these changes include the financial crisis; greater citizen demands for transparency, accountability and participation –as evidenced by the Arab Spring– and a more open and transparent World Bank.”

In addition to strengthening governance and anti-corruption work in client countries, the updated strategy will also focus on better measuring results and the development impact of the Bank’s-funded programmes and projects.

By Ekow Quandzie