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ADB unveils new safeguards for corruption whistleblowers

11 January 2010 12:54 (UTC +04:00)

Baku -APA-Economics. The Asian Development Bank (ADB) on Monday unveiled new safeguards for whistleblowers in a crackdown on corruption, AFP reported.
The Manila-based ADB, which offers multi-million-dollar loans and grants to developing countries, said it would protect the identities of workers and those outside the organisation worried about reprisals for reporting misconduct.
"ADB does not tolerate corruption in any form. By improving the information and protections available to whistleblowers and others who also provide evidence of misconduct, ADB is strengthening its ongoing efforts to combat fraud and corruption," said ADB anti-corruption chief Peter Pedersen.
"Individuals who come forward with information will receive protection from any retaliation due to their decision to report that information," the bank added.
Contractors, consultants and project beneficiaries would be covered by the new policies, the ADB said.
The ADB has been stepping up efforts to cut down on misuse of its funds and resources. In 2008, it sanctioned 41 firms and 38 individuals for corruption.
The institution provided more than 11 billion dollars in loans and grants last year to Asian countries, many of which are rife with corruption.
A survey released last year by Political and Economic Risk Consultancy (PERC) found that many of the developing Asian countries scored from 6.70 to 8.32 in a scale where zero is the least corrupt and 10 the most.
Many of the poorest Asian countries like Cambodia and Laos were not even included in the survey.