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On June 19, 2008, the World Bank Institute presented the guideline "Fighting Corruption Through Collective Action" in London. The guide has been created to help companies fight back against the insidious impacts of corruption.
Recent research shows that global corruption can add as much as 20 to 25 percent to the costs of public procurement, but many companies are still faced with the dilemma of either paying bribes to win business or withdrawing from high-risk markets. However, practical help is now at hand.
The World Bank Institute has released "Fighting Corruption through Collective Action - A Guide for Business." Created to help companies fight back against the insidious impacts of corruption, the guide outlines proven methods to fight marketplace corruption through collective action between business and other stakeholders.
Organized by the World Bank Institute, the coalition consists of NGOs and multilateral organizations including Grant Thornton member firms in Canada, UK and USA, Siemens, United Nations Global Compact, Center for International Private Enterprise (CIPE), Transparency International and Global Advice Network.