ICPC Says Many World Bank Grants Marred in Corruption

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has said many grants from the World Bank are marred in corruption.

Chairman of the anti-corruption body, Prof. Bolaji Owasanoye said this when he hosted a delegation of the Economic and Organised Crime Office of Ghana recently.

The Senior Advocate of Nigeria said the political economy of the international ecosystem was not designed for developing countries to progress in the fight against corruption.

He said the rule uses the IMF and the World Bank to whip countries into line when they try to challenge the debt.

He said many of the loans the World Bank grants are marred in corruption but no one has the courage to take them to court because those issues are usually politically determined.