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Integrity Framework for Public Investment

image of Integrity Framework for Public Investment

Public investment, and particularly infrastructure investment, is important for sustainable economic growth and development as well as public service provision. However, it is also vulnerable to capture and corruption. This publication examines the direct and indirect benefits of public investment if carried out in a clean and efficient manner. It provides a Framework for Integrity in Public Investment, mapping out risks of corruption at each phase of the investment cycle. It also identifies tools and mechanisms to promote integrity in the public investment cycle and provides examples of their successful implementation in both the public and private sectors.

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Foreword and Acknowledgements

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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