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2.4 Negotiations and Bank Approval Negotiation Tools |
Negotiations and Bank Approval Negotiation Tools:
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The signatories to the Development Credit Agreement should commit, conceptually and in terms of specific actions, to applying borrowed Bank funds in ways that affirmatively minimize the risks of fraud and corruption. |
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Conceptually, the borrowers should state in the document that fraud and corruption will not be tolerated, and that funds will be disbursed and the project managed to reasonably support project transparency, accountability and integrity. |
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The borrowers should also commit to taking a public position in this regard, and to communicating their anti-fraud position to the project region and localities. |
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Furthermore, the borrowers should specify precise actions that will be taken to support their conceptual commitment to fight fraud and corruption - such as minimum control levels, periodic audits, Civil Society participation in project status reviews, etc. |
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