You are here

Proposal for the Implementation of a Sanctions Process within the AfDB

05-Jul-2012

It will be recalled that on 9 April 2010, the leaders of the African Development Bank, Asian Development Bank, European Bank for Reconstruction and Development, Inter-American Development Bank, and the World Bank Group signed the Agreement for Mutual Enforcement of Debarment Decisions (the “Agreement”). This Agreement establishes a framework within which entities or persons found to have engaged in wrongdoing in development projects financed by International Financial Institution (“IFI”) may be sanctioned for the same misconduct by the other participating development banks in circumstances where such entity or person is debarred by one IFI for a period exceeding a year. The Agreement was the culmination of years of coordination work by these institutions which recognized that a unified and coordinated approach is critical to the success of the shared efforts to fight corruption and prevent such corruption from undermining the effectiveness of their work.

Related Sections