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Establishment of the African Integrity Fund
There is ample evidence on the adverse impact of Prohibited Practices1 and illicit financial outflows on African economies and societies. A large number of studies carried out both in Regional Member Countries (“RMCs”) of the African Development Bank Group (“AfDB” or “the Bank”) and outside show Prohibited Practices as a factor that undermines political stability, impedes economic progress and results in social discord on the continent. The troubling effects of pervasive corruption on the performance of public institutions and development effectiveness are well documented: By distorting the allocation of resources, corruption increases the prices of public goods and services while lowering the quality of service delivery and restricting access to services to the poor who can ill afford to pay the corruption premium.