News banner image

News

Cross Debarment: A new global tool against corruption

The cross debarment agreement signed recently by the world’s top multilateral banks is a milestone for the anticorruption agenda.  Due to come into force by mid-year, the agreement says that if one Multilateral Development Bank (MDB) declares a firm or individual ineligible for procurement contracts because of fraud and corruption, then all the other MDBs will do the same.

Fraud and corruption are major impediments to development effectiveness. The threat of public sanctions should add significantly to the financial and reputational risks for individuals and firms, creating both a deterrent for misconduct and an incentive for them to adopt effective anticorruption programs. 

Cross-debarment, along with improved information sharing and coordinated investigations, is part of unprecedented collaboration between the African Development Bank Group, the Asian Development Bank, the European Bank for Reconstruction and Development, the Inter-American Development Bank Group and the World Bank Group.

Transparency International-USA will hold a roundtable on the impact of cross debarment at Inter-American Development Bank headquarters, May 5th 2010, from 12:00 pm to    2:00 p.m.

Panelists at this roundtable will discuss important questions raised by this joint sanction accord. What are the stakes for the future of a debarred company? Will cross debarment redefine risk parameters for other development organizations? What are the broader implications for securing government contracts or finance?

WHAT:

A Transparency International-USA roundtable on the impact of cross debarment by multilateral banks of firms and individuals involved in fraud and corruption.

WHEN:    

Wednesday, May 5, 2010, 12:00 p.m. – 2:00 p.m.

WHERE:

Inter-American Development Bank

 

Enrique Iglesias Conference Center

 

1330 New York Avenue, NW

 

Room CR-2

 

Washington, DC, 20577

WHO:     

NAWEED RIAZ, African Development Bank Group

 

ENERY QUINONES, European Bank for Reconstruction and Development

 

PETER PEDERSEN and CLARE WEE, Asian Development Bank

 

BRIGIDA BENITEZ, Inter-American Development Bank Group

 

STEPHEN ZIMMERMANN, World Bank Group

 

Additional comments by Paul-Lachal Roberts, OLAF

 

Moderated by Nancy Boswell, TI-USA

Members of the media wishing to attend, please RSVP by Monday, May 3 to transparency@transparency-usa.org, (202) 589-1616 and contact Samuel Silva, samuels@iadb.org, (202) 523-3706, or Mildred Rivera, mildredr@iadb.org, (202) 623-2319, at the IDB.