April 14, 2011 12:19 PM

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World Bank, enforcement authorities vow to step up efforts against corruption

The World Bank and enforcement authorities from around the globe have vowed to step up their efforts against corruption. World Bank President Robert Zoellick said at the launch of a joint declaration in Washington, corruption steals from the poor, undermines fair competition, distorts resource allocation, destroys public trust, and undermines the rule of law. Titled 'Declaration of Agreed Principles for Effective Global Enforcement to Counter Corruption', it stresses on technical assistance and international cooperation in managing corruption investigations, as critical inputs to enhancing the fight against crime and corruption. At the meeting, the World Bank and its partners agreed that cooperation and a willingness to work together among investigative and prosecution authorities was critical to success in combating crime and corruption.

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