WASHINGTON, February 18, 2020—Due to heightened interest in a Working Paper published by the World Bank, the institution has issued the following statement:
“Research conducted at the World Bank Group aims to support better country outcomes for the poor and vulnerable. The Bank is ranked first among research institutions in development, and our knowledge services undergo extensive review to ensure quality. The Bank publishes almost 400 working papers annually, often as works-in-progress disseminated informally to stimulate discussion and serve as a catalyst for more research.
We fully support our research department’s work to generate independent, relevant, peer-reviewed research, including on the important topic of illicit financial flows. World Bank Group management takes corruption and related fiduciary risks very seriously, especially given the challenging environments in which we need to work to achieve our poverty mission. The draft paper, ‘Elite Capture of Foreign Aid’ underwent several reviews, and it was improved as a result. The revised paper, now published as a World Bank Working Paper addresses a number of comments raised during the review process.
The World Bank Group strongly supports rule of law and good governance practices. We have strict procurement and financial management procedures in place that deter and detect corruption and irregularities in IDA and IBRD funded projects and programs and hold violators accountable wherever possible.”