10-30 pct of cost in capital investment projects consumed by corruption - World Bank

Rampant global corruption in the public procurement sector with multiple entry point estimates that 10 percent to 30 percent of the cost of capital investment projects had been consumed by corruption, according to the World Bank Group.

Its lead public sector specialist Rajni Bajpai said more than one-half of the cases relating to foreign bribery involve public procurement, while the surveys of business owners consistently identify corruption in public procurement as among the major constraints to doing business worldwide.

“Often placed at the epicentre of discussions of corruption, public procurement has wide-ranging ramifications for the economy and delivery of public services,” she said at the virtual East Asia and Pacific (EAP) regional launch...