Thursday, April 18, 2019

NDF, World Bank cooperate on anti-fraud

 

The World Bank and the Nordic Development Fund have signed a memorandum of understanding on collaboration concerning investments in institutional capacity to manage fraud and corruption risks impacting project outcomes, with a focus on developing countries that request such assistance.

Both organisations will develop mechanisms to expand collaboration while engaging periodically to monitor trends and assess emerging risks. The cooperation between the World Bank and NDF will be further facilitated by NDF’s new Policy on Anti-corruption and Integrity, which enters into force October 1, 2012. The policy commits to enforce cross-debarments triggered under the Cross-Debarment Agreement of 2010 signed by the World Bank and other multilateral development banks. “NDF is committed to prevent and combat fraud and corruption in its operations. This will strengthen the climate change and development impact of projects financed by NDF and its partners,” said Helge Semb, Managing Director of NDF.