• Jobs
  • Privacy Policy
No Result
View All Result
  • Login
Exposed
  • About
  • Banks
  • Business
  • Tech
  • Join Us
  • About
  • Banks
  • Business
  • Tech
  • Join Us
No Result
View All Result
Exposed
No Result
View All Result
Home Banks
Trending

World Bank Bolster Support for Anti-Corruption Reforms in Solomon Islands

by Exposed
June 6, 2022 - Updated on September 13, 2022
10
376
SHARES
9.4k
VIEWS
Share on TwitterShare on TelegramShare on Whatsapp

The World Bank is committed to bolster efforts to strengthen financial management, address debt issues and empower the Solomon Islands Internal Commission Against Corruption by providing a supplemental US$15 million to existing support for these reforms.

world bank headquarters

At the end of November 2021, protests and rioting in Honiara caused widespread destruction with economic damage amounting to around US$86 million or roughly 7 percent of the nation’s GDP.

These impacts were compounded by a reduction in tax collections from impacted businesses, decreased economic activity from lockdowns and higher import prices for goods due to the conflict in Ukraine.

The World Bank has committed the extra funding to ensure the Solomon Islands government is able to continue providing necessary services and operations while continuing to work towards improved public financial management, anti-corruption efforts and environmental sustainability.

“We’re pleased to be standing with Solomon Islanders in meeting the unprecedented economic shocks the country has faced in the past two years, and to assist in keeping the government’s ambitious reform program on track,” said Annette Leith, the World Bank Group Resident Representative in Solomon Islands and Vanuatu, in a press release on Sunday.

“This new support will help Solomon Islands continue to focus on strengthening financial management, improving the business environment, and responding to the significant threats of climate change,” Leith added.

The existing government reform program aims to increase the transparency of procurement processes, keep debt at manageable levels, and support more efficient tax processes.

The reform program will also assist the Solomon Islands Independent Commission Against Corruption to strengthen its reporting processes and boost women’s representation in anti-corruption efforts.

Finally, reforms supported through this World Bank support will also focus on improvements to climate adaptation planning, by increasing the number of communities that are assessed for climate vulnerability and adaptation, decreasing the use of single use plastics and reducing imports of plastic bags.

The new assistance comes as the World Bank and president of the World Bank Group announce a historic increase in its support to the Solomon Islands, with over US$130 million over four projects expected to be approved throughout the month of June.

The three other projects include support for fisheries management, aviation and roads, and infrastructure in rural areas.

Read about how the Solomon Islands and other tax havens are used to money laundering and white-collar crime in our Exposed Foundation story about Husnu Ozyegin.

Tags: corporate crimecorruptionexposed
Previous Post

Deutsche Bank Crisis as Authorities Raid 1st Office Over ESG “Green-Washing” Scam

Next Post

Credit Suisse Found Guilty in Cocaine Cash Laundering Case

Exposed

Exposed

Next Post
Credit Suisse logo and sign hanging on building

Credit Suisse Found Guilty in Cocaine Cash Laundering Case

Comments 10

  1. Timothy Kingham says:
    10 months ago

    Was the solomon islands in the pandora or panama papers?

    Reply
    • Sam Evans says:
      10 months ago

      yeah Im not sure but I would guess so. corruption is rife in banking sector believe me

      Reply
  2. Greg Sully says:
    10 months ago

    Solomon Islands known as a huge tax evasion country – glad something is coming out

    Reply
    • Sam Evans says:
      10 months ago

      Isn’t the world bank equally as corrupt though? perhaps this is just the world bank covering its tracks. To be honest I think all the people that have a lot of money are corrupt and most banks cover this as they profit from it. Needs a complete overhaul IMO

      Reply
    • Mary Smith says:
      9 months ago

      https://www.strongabogados.com/tax-haven.php

      Yeah the EU listed it as a black listed tax haven – see this website list from 2008 – maybe its changed now but some interesting ones on that list.

      Reply
  3. Mary Smith says:
    9 months ago

    New to this site. Thanks for all the information. Do you only cover news of financial issues or do your own investigations too? Where can I put a suggestion if so?

    Reply
  4. Tyler Short says:
    9 months ago

    bla bla corruption corruption corruption but the ones exposing it then allow more government clampdowns. so whats better letting the people get more money and give less tax to government or give more money to gov and ultimately less to the people that were clever enough to think outside the box and try beat the corrupt system

    Reply
  5. Kim Noonan says:
    9 months ago

    WHO runs the world bank?

    Reply
  6. Kim Noonan says:
    9 months ago

    “The organizations that make up the World Bank Group are owned by the governments of member nations” thats what website says but there is a catch as you have to join the IMF first – so really the IMF runs the world bank then I guess. The Board of Governors runs the IMF with USA, Japan and China having biggest % of fund total.

    Reply
    • Timothy Kingham says:
      9 months ago

      but then who is at fault the IMF/World Bank OR the country for allowing it?

      Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Categories

  • Banks (14)
  • Business (7)
  • Tech (5)

About

Exposed is run by the Exposed Foundation, a startup created and supported by a group of like-minded students, activists, and journalists dedicated to exposing malpractice, fraud, and injustice in the financial industry.

Categories

  • Banks
  • Business
  • Tech

Tags

bank banks bribes conspiracy corporate crime corruption data leaks exposed fiba fraud husnu ozeygin lebanon money laundering ozeyin whistleblower

© 2022 Exposed - Exposing corruption around the World by means of the Exposed Foundation.

No Result
View All Result
  • About
  • Banks
  • Business
  • Tech
  • Join Us
  • Login

© 2022 Exposed - Exposing corruption around the World by means of the Exposed Foundation.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.