A world built on bribes?

Press Release:

A world built on bribes?
Corruption in construction bankrupts countries and costs lives, says TI report

Transparency International’s Global Corruption Report 2005 shows how corruption in the construction sector undermines economic development, and threatens to hamstring post-conflict reconstruction in Iraq and beyond.

TI publishes Minimum Standards for Public Contracting

London, 16 March 2005

“Corruption in large-scale public projects is a daunting obstacle to sustainable development,” said Peter Eigen, Chairman of Transparency International (TI), launching the TI Global Corruption Report 2005 today. “Corruption in procurement plagues both developed and developing countries,” Eigen added. “When the size of a bribe takes precedence over value for money,” he said, “the results are shoddy construction and poor infrastructure management. Corruption wastes money, bankrupts countries, and costs lives.” TI is the leading international non-governmental organisation combating corruption worldwide.



“Funds being poured into rebuilding countries such as Iraq must be safeguarded against corruption,” Eigen said today. “Transparency must also be the watchword as donors pledge massive sums for reconstruction in the countries affected by the Asian tsunami,” he added. The Global Corruption Report 2005, with a foreword by Francis Fukuyama, includes a special focus on construction and post-conflict reconstruction, and highlights the urgent need for governments to ensure transparency in public spending and for multinational companies to stop bribing at home and abroad..............
http://www.transparency.org/pressreleases_archive/2005/2005.03.16.gcr_relaunch.html