• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business Banking & Finance

World Bank processes to enforce anti-corruption standards in usage of Covid-19 funds

4 years ago
in Banking & Finance, Business, Economy, Editor's pick, highlights, Home, home-news, latest News
1 min read
0 0
0
77
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

World Bank President, David Malpass, has said the multilateral institution has put in place processes to serve as safety guardrails against corruption activities in countries that are to be beneficiary of funds meant to strengthen the fight against the Covid-19 pandemic.

Accorfing to President Malpass, the World Bank gives enormous attention to prevailing environmental, social and governance factors (ES&G) in member countries and that there are substantial processes undertaken by the Bank that directly addresses the issue of corruption.

“Within the World Bank’s processes, there is substantial work given to ES&G. So, these are safety guardrails that help guard against corruption, against poorly designed projects. And there’s a substantial process within each part of the World Bank Group to try to directly address the issue. Of course, mistakes can be made, have been made in the past, and so we’re working constantly to try to correct those processes and move forward,” he said.

“One thing I’ll mention is the importance of anti-corruption standards. The OECD has standards in that regard, and it would be good to have all countries – and some of the major economies in the world don’t participate in those standards, and that undercuts the effort,” he added.

He continued saying, “I will also mention, in general, transparency. I’ve advocated that in terms of debt contracts. Some of the debt contracts not only have nondisclosure clauses on the creditor, but also on the borrower, which is highly unusual, and yet, that’s become the norm for some of the contracts in recent years. And we also want transparency, or we encourage it, in terms of the vaccine information sharing. One of the biggest challenges is to get vaccines flowing as early as possible to the developing world so they can begin the vaccination process. And that takes more information sharing by the advanced economies and manufacturers in order to get that process started.”

President Malpass made the above assertions in a response to a question as to what practical steps the World Bank is taking to ensure that monies allocated to countries in the fight against the pandemic reach the targeted individuals, groups, or sectors.

The World Bank in 2020 alone made over $100 billion in grants and loans to member countries to tackle the pandemic.

RelatedPosts

Multichoice Rebuffs Minister’s Claim On DSTV Price Cuts, Cites Market Conditions

MTN Nigeria Now the Most Capitalized Stock in Nigeria

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

Source: norvanreports
Tags: corruptionKenyaSouth Africa
No Result
View All Result

Highlights

OPEC+ Nears Decision Point on Next Oil Output Hike

Europe’s Energy Future Hinges on Global Powers

US Companies Cut Investments in China to Record Lows, Here’s Why

How AI is Rewriting and Enhancing Water Risk Management

SheFarms Broiler Edition Kicks Off in Greater Accra

PharmAccess Ghana, Healthcare Federation of Ghana sign SafeCare License Agreement; to use Newest ISQua-Certified Version 5

Trending

Business

Multichoice Rebuffs Minister’s Claim On DSTV Price Cuts, Cites Market Conditions

August 3, 2025

Multichoice Rebuffs Minister's Claim On DSTV Price Cuts, Cites Market Conditions MultiChoice Ghana has pushed back against...

MTN Nigeria Now the Most Capitalized Stock in Nigeria

August 3, 2025

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

August 3, 2025

OPEC+ Nears Decision Point on Next Oil Output Hike

August 3, 2025

Europe’s Energy Future Hinges on Global Powers

August 3, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.