$1 TRILLION GOES IN BRIBES EACH YEAR ACCORDING TO A WORLD BANK ESTIMATE
Bulgaria hosted a regional conference, which gathered regional technical experts in the area of anti-corruption and recovering stolen assets. The event was organized by the Stolen Asset Recovery Initiative (StAR) - a joint project of the United Nations Office on Drugs and Crime (UNODC) and the World Bank. The meeting focused on the benefits of using the UN Convention against Corruption for recovering assets stolen by corrupt political leaders or senior civil servants who hide their illicit proceeds abroad.
The conference gathered representatives from 12 countries in South Eastern Europe, including Bosnia and Herzegovina, Serbia, Croatia, Albania, Kosovo UNSCR 12-44, FYR of Macedonia, Romania, Greece and Austria. Bulgaria has presented its experience from the Commission for Establishing of Property Acquired from Criminal Activity.
The event was opened by Dr. Stuart Gilman, Deputy Director of the StAR initiative, who focused on the cost of corruption and the importance of ending impunity by corrupt politicians who believe they will escape justice. He said: “Political will is essential for effective asset recovery efforts. Unfortunately, corrupt high level officials can use political influence to stop investigations or prosecutions. Without support at the highest levels of government, these criminals can get away with some of the most outrageous crimes.”
According to a World Bank estimate $1 trillion goes in bribes each year and this has a devastating impact for development. According to Theodore S. Greenberg from the World Bank Financial Market Integrity Unit, one of the Bank’s main presenters, “the portion of the recovered assets could provide much-needed funding for social programs or infrastructure”. It has been calculated that every recovered $100 million would help for 250,000 household water connections or 50-100 million drug treatments for malaria or 240 kilometers of two-lane paved road.
“I am glad that Bulgaria has hosted this important meeting” Florian Fichtl, World Bank’s reprehensive in Bulgaria said. According to him “the meeting provided good opportunity for all countries in the region to exchange experience how to establish a successful international cooperation in seizure and confiscation. The World Bank was honored to contribute with its knowledge assets in this area.”
The results of Sofia regional conference will support further efforts by UNODC in implementing its Regional Program for South Eastern Europe on Rule of Law and Human Security as well as the World Bank’s efforts to assist the region’s economic development and improving people’s lives.
“The outcomes of this event is expected to set up a network of cooperation among practitioners in the region, that will continue to be supported by the UNODC Regional Program Office for South Eastern Europe, based in Sofia” said Carla Ciavarella, UNODC Regional Program Coordinator.
