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Investment ? whether funded publicly, privately, or jointly ? can be a driver of sustainable economic growth and development, and is necessary for the provision of basic services. However, given the often impressive monetary and political gains at stake, investment, and particularly infrastructure investment, can also be vulnerable to capture and corruption. Indeed, large-scale infrastructure projects are, unfortunately, often associated with political pandering, bribery, and collusion. Recent evidence from the OECD Foreign Bribery Report, for instance, found that almost 60% of foreign bribery cases occurred in four sectors related to infrastructure.
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Public investment is an essential element for sustainable economic growth which also could result in significant consequences when it is not properly carried out. In this regard, avoiding capture in public investment projects is crucial in order to maximise its economic and social benefits. Building on this idea, this chapter maps out the integrity risks associated with each phase of the public investment cycle in order to appropriately address the integrity risks resulting from the complexity and the multiple stakeholders involved in public investment projects.
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The Integrity Framework for Public Investment provides concrete measures and mechanisms that could be employed at each phase of the public investment cycle in order to safeguard integrity. In addition, this chapter provides more than 40 examples of good implementation measures and mechanisms already existing in the public and private sectors.