World Bank Initiates Anti-Corruption Voluntary Disclosure Program

On August 1, 2006, the World Bank’s Board of Directors formally approved a Voluntary Disclosure Program designed to strengthen the Bank’s anti-corruption programs. The Voluntary Disclosure Program (VDP) is an initiative to uncover corruption in World Bank-financed projects through the voluntary cooperation of participating firms and individuals. The program, to be managed by the Bank’s Department of Institutional Integrity, permits entities that have engaged in past fraud and corruption to avoid administrative sanctions if they disclose all prior wrongdoing and satisfy standardized, non-negotiable terms and conditions.