AIIB is committed to the highest standards in the areas of anti-corruption, ethics and transparency. As an integral part of its Lean, Clean and Green organizational principles, it insists on zero tolerance for corruption. AIIB has put in place strong policies on governance, accountability, financial, procurement and environmental and social frameworks. The purpose of its Policy on Prohibited Practices is to ensure that the Bank’s financial support is used only for the purpose for which it has been given. The Bank has also established Codes of Conduct for all its staff and Board in order to promote accountability, transparency and business ethics.
Accordingly, the Bank has established a regime for the sanctioning of firms and individuals that are found to have engaged in specified forms of fraud, corruption and other prohibited practices in connection with Bank-financed projects. This regime protects the Bank’s funds and serves as a deterrent to those who might otherwise engage in the misuse of the proceeds of the Bank’s financing. The following practices are sanctionable by the Bank:
Impairing or harming, or threatening to impair or harm, directly or indirectly, any party or the property of a party to influence improperly the actions of a party.
An arrangement between two or more parties designed to achieve an improper purpose, including to influence improperly the actions of another party.
The offering, giving, receiving or soliciting, directly or indirectly, of anything of value to influence improperly the actions of another party.
Any act or omission, including a misrepresentation, that knowingly or recklessly misleads, or attempts to mislead, a party to obtain a financial or other benefit or to avoid an obligation.
Misuse of Resources
Improper use of the Bank’s resources, carried out either intentionally or through reckless disregard.
Any of the following practices:
- Deliberately destroying, falsifying, altering or concealing of evidence material to a Bank investigation;
- Making false statements to investigators in order to materially impede a Bank investigation into allegations of a Prohibited Practice;
- Failing to comply with requests to provide information, documents or records in connection with a Bank investigation;
- Threatening, harassing or intimidating any party to prevent it from disclosing its knowledge of matters relevant to a Bank investigation or from pursuing the investigation;
- Materially impeding the exercise of the Bank’s contractual rights of audit or inspection or access to information.
The misappropriation of property belonging to another party.