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ADB will not tolerate corruption: Kuroda

By Staff
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Hyderabad, May 3 (UNI) Asserting its determination to prevent corruption in projects funded by it, Asian Development Bank (ADB) President Haruhiko Kuroda said the institution was prepared to 'cancel any loans with doubtful transactions.' Interacting with over 100 civil rights organisations which complained about corruption in ADB-funded projects, he said ''we very much value the inputs provided by the stake holders.

Corruption and good governance are major issues for the bank. We cannot tolerate any corrupt practices in projects funded by us.

''If necessary, the bank wil provide additional support staff to its Integrity Division to supervise the implementation of the ADB-funded projects in member-countries.'' Later, when asked at a press conferece about protests by various civil society organisations against its policies, he said ''in a democratic society, they have every right to demonstrate and express their views.

''We have full faith in Indian authorities that they will maintain conducive atmosphere for constructive discussion not only by the Governors, but also by academicians and civil society people,'' he added.

UNI SM GM RA PM1656

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