Improving Governance and Fighting Corruption - New Frontiers in Public-Private Partnerships

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The conference ends, and the real work begins

News reported on 04/02/07 03:40 PM

Now that "Improving Governance and Fighting Corruption" has drawn to a close, participants have the opportunity to reflect on what was said, and how to continue action on the issues raised. Bringing nearly 500 policymakers, development professionals, and private sector leaders to the Egmont Palace in Brussels, the conference provided overwhelming support for the idea that governance should be a central theme in building relationships between developed countries, developing countries, and the private sector. The conference included participation from World Bank President Paul Wolfowitz, along with Liberia President Ellen Johnson Sirleaf, former Nigerian finance minister Ngozi Okonjo-Iweala, Belgian King Albert II, and the heads of a number of major multinational corporations. The discussion was led by moderator Nik Gowing, a veteran BBC World TV anchor.

By the end of the conference, Belgium had announced its intention to join the Extractive Industries Transparency Initiative (EITI) with a $650,000 contribution, making it the fourth largest donor to the organization's work of improved governance in oil, gas, and mining industries. Additionally, conference attendees had begun to reach some conclusions about the struggle for good governance and against corruption:

  • Technical support to shape institutions may be less effective than building peer and demand-side pressure. Shifts in donor support may be needed.
  • OECD countries need to provide resources to speed the recovery of assets deposited in OECD-based banks.
  • Stronger action is needed by OECD countries on the supply side of corruption.
  • The private sector needs to bring more big companies into the growing group of companies that are taking a zero tolerance approach to corruption.
  • The next generation of leaders, from grammar schools to business schools, has to be brought into the debate.

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