The World Bank Group sanctions system

Pascale Hélène Dubois, Frank Fariello, Collin Swan, Corinne Champilou, Sheherezade Cariño Malik and Naicheng Deng

Chapter 10 in Legal Advisers in International Organizations, 2023, pp 227-258 from Edward Elgar Publishing

Abstract: The World Bank Group (‘Bank Group’) is a multilateral development bank (MDB) that provides financial and technical assistance to developing countries. It works to achieve the goals of ending extreme poverty and promoting shared prosperity. Recognizing the detrimental effects of fraud and corruption on development efforts, the Bank Group became the first international financial institution to implement a formal sanctions system which suspends and debars actors found to have engaged in misconduct on Bank Group-financed projects. This chapter offers a brief overview of the Bank Group and the context in which the sanctions system operates. It also describes the objectives and historical development of the system; delves into its structure and current operating norms; contemplates the critical role of the World Bank’s Legal Vice Presidency; and provides an overview of the system’s major contributions vis-à-vis the development of legal norms in suspension and debarment, including its innovative two-tier adjudication process, the use of settlements, and the early temporary suspension approach. The innovative nature of the system has contributed to the development of legal norms; spread to multiple international financial institutions; influenced national legal systems and other international organizations; and fostered innovative harmonization efforts and effective cross-debarment agreements with other MDBs.

Keywords: Law - Academic (search for similar items in EconPapers)
Date: 2023
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.elgaronline.com/view/edcoll/9781785363160/9781785363160.00016.xml (application/pdf)
Our link check indicates that this URL is bad, the error code is: 503 Service Temporarily Unavailable

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:elg:eechap:16870_10

Ordering information: This item can be ordered from
http://www.e-elgar.com

Access Statistics for this chapter

More chapters in Chapters from Edward Elgar Publishing
Bibliographic data for series maintained by Darrel McCalla ().