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| AID money fraud | | Print | |
The World Bank froze funding for aid projects on Tuesday amid a fraud scandal. Cambodia's finance minister says that stolen funds will be repaid. "We need to find those who are guilty and punish them according to the law. Like catching the rat in the cupboard without breaking the plates inside," he said. The World Bank suspended funding for three projects and demanded the government pay back more than $US7 million after uncovering irregularities in dozens of project contracts. There were allegations of misuse of funds in seven poverty reduction and infrastructure projects supported by the World Bank and the Cambodian government elected to stop disbursement of funds to three projects worth $US64 million in May after the fraud allegations first surfaced. But earlier this month it resumed the projects after the bank failed to present evidence to back up its corruption claims. Keat Chhon said the projects are continuing as he "examines the documents given by the World Bank step-by-step". |
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| Last Updated on Thursday, 06 August 2009 10:59 |