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On December 9, 2009, Siemens launched a global Siemens Integrity Initiative which supports organizations and projects fighting corruption and fraud through Collective Action, education and training with over US$ 100 million. The Initiative focuses on supporting projects that have a clear impact on the business environment, can demonstrate objective and measurable results and have the potential to be scaled up and replicated. The Siemens Initiative is part of the comprehensive settlement between the World Bank Group and Siemens AG, which was announced on July 2, 2009. In addition, some projects may be funded on the basis of the European Investment Bank (EIB) – Siemens AG settlement which was published in March 2013. Details will be specified in the relevant Funding Agreements.
The funds provided by Siemens will be allocated in several funding rounds over 15 years. The first funding round started on December 9, 2009. The second funding round was announced on June 27, 2013, and the deadline for applications was August 29, 2013. Projects and organizations are selected by means of a two-stage review and due diligence process. The World Bank Group will have audit rights over the use of these funds and veto rights over the selection of anti-corruption groups or programs receiving funds. The agreement between Siemens and the European Investment Bank (EIB) gives the EIB the right to reject the proposed projects.
In 2010, Siemens has named the first projects under the first funding round that will receive funding from the Siemens Integrity Initiative to promote clean markets. An initial tranche of US$ 37,7 million will be distributed to over 30 projects from more than 20 countries.
Starting in fall 2014, Siemens named projects that will be funded under the second round of the Siemens Integrity Initiative. In total up to US$ 35,554 million will be distributed to 24 projects from more than 20 countries over a period of three to five years.