Siemens AG on December 9 announced the first anti-corruption projects that will receive financing from the US$100 million integrity initiative to promote clean markets. This initiative is part of the World Bank-Siemens AG comprehensive settlement that was agreed on July 2, 2009. that was agreed on July 2, 2009.
An initial tranche of US$40 million will now be distributed to more than 30 initiatives from over 20 countries that have been selected. Around 300 nonprofit organizations from 66 countries had applied for funding during the first round.
Projects that will be supported by this initial tranche are from following countries: Angola, Brazil, China, Egypt, Hungary, India, Indonesia, Italy, Mexico, Nigeria, the Philippines, Russia, the Slovak Republic, South Africa, the Czech Republic, the U.S. and Vietnam and various Middle Eastern states.
The Vietnam’s initiative aims at bringing companies operating in the country together to work towards improving integrity and transparency of the way business is conducted. Awareness raising, promotion of dialogues among multi-stakeholders and training will be the key activities to ensure the sustainable improvement of transparency and integrity of doing business in Vietnam.
“We’re very pleased that Vietnam’s application to this initiative is successful“, said Erdal Elver, President and CEO of Siemens Vietnam. “Together with our Integrity Partner, herein Vietnam Chamber of Commerce and Industry (VCCI), we will promote a healthy business environment in Vietnam. More than ever integrity and transparency in business takings must be seen as a prerequisite for the sustainable growth of any civilized society. ”
"It is a privilege for VCCI to manage the Integrity and Transparency in Business Initiative for Vietnam to tackle corruption in business sector”, said Nguyen Quang Vinh, Director General, the Office for Business Sustainable Development (SDforB), VCCI. “The initiative forms a dynamic partnership among businesses, governments, civil society organizations and international organizations for improvement of business standards that has significant influence on the fight against corruption in Vietnam”
“Siemens stands for top performance with the highest ethical standards,” said Peter Y. Solmssen, Member of the Managing Board and General Counsel of Siemens AG. “Together with the World Bank Group, we want to promote integrity and fair competition worldwide. With the selection of the projects for the Siemens Integrity Initiative, we have taken the first important step in this direction.”
“We welcome the company’s initiative and clear commitment to the principle that only clean business is good, sustainable business“, said Leonard McCarthy, Integrity Vice President of the World Bank Group. “Corruption steals from the poor, and it can only be tackled on a joint basis. The projects of the Siemens Integrity Initiative will help strengthen the will to combat corruption worldwide and improve conditions for everyone.”
As part of the World Bank-Siemens AG settlement agreement, the World Bank has audit rights over the use of the funds and veto rights over the selection by Siemens of anti-corruption groups or programs receiving funds. The selection was made with a view to achieving a balance with respect to the topics and the regional distribution of the funds.
In December 2009, Siemens announced that funds totaling US$100 million would be distributed over the next 15 years to nonprofit organizations worldwide that promote business integrity and fight corruption.
Further funding agreements as part of the World Bank-Siemens Initiative will be announced in 2011.
Nam Pham
Vietnamese
