Latest update April 12th, 2025 5:51 AM

Guyana's largest selling daily and New York's most popular weekly

Latest News

Cross Debarment: A new global tool against corruption

May 02, 2010 News

The cross debarment agreement signed recently by the world’s top multilateral banks is a milestone for the anticorruption agenda.
Due to come into force by mid-year, the agreement says that if one Multilateral Development Bank (MDB) declares a firm or individual ineligible for procurement contracts because of fraud and corruption, then all the other MDBs will do the same.
According to the IDB, fraud and corruption are major impediments to development effectiveness. The threat of public sanctions should add significantly to the financial and reputational risks for individuals and firms, creating both a deterrent for misconduct and an incentive for them to adopt effective anticorruption programmes.
Cross-debarment, along with improved information sharing and coordinated investigations, is part of unprecedented collaboration between the African Development Bank Group, the Asian Development Bank, the European Bank for Reconstruction and Development, the Inter-American Development Bank Group and the World Bank Group.
Transparency International-USA will hold a roundtable on the impact of cross debarment at Inter-American Development Bank headquarters, May 5, 2010, from 12:00 pm to    2:00 p.m.
Panelists at this roundtable will discuss important questions raised by this joint sanction accord. What are the stakes for the future of a debarred company? Will cross debarment redefine risk parameters for other development organizations? What are the broader implications for securing government contracts or finance?

Similar Articles

The Glenn Lall Show|| April, 7th, 2025

Follow on Tik Tok @Glennlall

THE BLUNT OF THE DAY

Sports

Moo sponsored National Junior’s Squash C/ship eying exciting conclusion

Moo sponsored National Junior’s Squash C/ship eying exciting...

Apr 11, 2025

-Thrilling action unfolds on Day Three Kaieteur Sports- The courts at the National Racquet Centre (NRC) were once again buzzing with intensity on Wednesday as Day Three of Moo’s National Junior...
Read More
BK Group remains supportive of Bartica Easter Regatta

BK Group remains supportive of Bartica Easter...

Apr 11, 2025

GFF-Blue Water Shipping National U15 Secondary School Girl’s Football C/ship officially launched

GFF-Blue Water Shipping National U15 Secondary...

Apr 11, 2025

Elite League action returns to NTC this weekend

Elite League action returns to NTC this weekend

Apr 11, 2025

Two more young cricketers benefit from Project “Cricket Gear for young and promising cricketers in Guyana”

Two more young cricketers benefit from Project...

Apr 10, 2025

NSC receives sports uniforms from D8Door & Hardware Inc.

NSC receives sports uniforms from D8Door &...

Apr 10, 2025

Features/Columnists

  • Mashing an ants’ nest

    Peeping Tom Kaieteur News-  The People’s Progressive Party Civic has always believed in its own myth. It has fashioned... more

Publisher’s Note

Freedom of speech is our core value at Kaieteur News. If the letter/e-mail you sent was not published, and you believe that its contents were not libellous, let us know, please contact us by phone or email.

Feel free to send us your comments and/or criticisms.
Contact: 624-6456; 225-8452; 225-8458; 225-8463; 225-8465; 225-8473 or 225-8491.
Or by Email: [email protected] / [email protected]

Weekend Cartoon

Bridge Watch

Demerara Harbour Bridge

> Berbice Bridge […]