In the wake of serious failings exposed by investigative journalists, Transparency International and its chapters in ten countries are calling for accountability and systemic reforms at the Central American Bank for Economic Integration (CABEI). In a letter addressed to CABEI’s governors, Transparency International expresses concern over allegations of corruption in bank’s supported projects going back at least ten years. The appeal comes ahead of the Board of Governors’ meeting on Friday when they are scheduled to elect the bank’s new executive president.
See our letter to CABEI governors: English and Spanish
The Dictators’ Bank investigations by the Organized Crime and Corruption Reporting Project (OCCRP), the Columbia Journalism School, and Redacción Regional uncover misuse of funds, possible conflicts of interest and alleged breaches of procurement rules. In many cases, the bank appears to have failed to conduct appropriate due diligence before approving the loans. In some cases, internal audit documents reviewed by journalists show that risks had been flagged but ignored.
The signatories urge CABEI governors to initiate an independent investigation into the bank’s…
