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Bribery by foreign companies threatening poverty reduction efforts – World Bank

If unchecked, corruption poses a threat to reducing poverty and supporting shared prosperity, the World Bank has said in a paper titled ‘Working in partnership is key to fighting corruption’ released on Wednesday, September 23, 2020.

The Bretton Woods institution said corruption has long been recognized as a major impediment to development.

From massive theft of state assets to the low-level corruption that erodes productivity and weakens service delivery, corruption steals from the poor and erodes progress, it said.

“Corruption takes many forms. It is the foreign company that pays kickbacks or bribes to get preferential treatment, leaving poor countries with devalued goods or services.

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Corruption to be made a felony in Ghana; stiffer punishment for culprits

Government has initiated processes in Parliament towards making corruption a more unrewarding venture.

The Attorney General and Minister of Justice Gloria Akuffo has in this regard presented to Parliament the Criminal Offences (Amendment) Bill, 2020.

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