ADB sanctions 41 firms for corruption

The Asian Development Bank (ADB) sanctioned 41 firms and 38 individuals last year for corruption, the Manila-based lender said in a posting Tuesday on its website.

In a report from the bank's Integrity Division it said 552 firms and individuals have been banned from working for the ADB since it began investigating corruption allegations in 1998.

The bank said it had received 186 complaints in 2008, which resulted in 89 investigations.

The investigations ranged from a medical-benefit fraud case by a former staff member involving less than 100 dollars to alleged collusion in bidding for a road construction project worth more than 10 million dollars.

The report said the ADB would not publish the list of firms and individuals, although it shares the information with other international organisations.

According to the report, 74 percent of the cases investigated involved ADB-financed activities, while 18 percent involved ADB staff members.

The remainder involved sanction violations and conflicts of interest. The firms that were sanctioned as a result of the investigations are prohibited from doing business with the ADB for up to seven years, while sanctions against individuals range from one year to an indefinite period.

Source: AFP

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