By Channa Kasturisinghe

Corruption and frauds in World Bank financed projects lead to an annual loss of 10 to 30 percent of funds allocated mainly for poverty alleviation projects internationally, Christina Ashton-Lewis, Senior Institutional Intergrity Officer of the World Bank said.The visiting senior WB official made an awareness presentation on how the WB investigates allegations of fraud and corruption in the Bank Group projects at the World Bank Conference Room, Colombo on Wednesday. Full story

Other Stories

• Commercial Bank, Credit Agricole Indosuez sign MoU to acquire CAI Bangladesh

• Chevrolet to set up manufacturing plant here

• Export earnings increase by 33% in May, trade deficit narrows

• Minister deplores Lanka's IT related knowledge

• Pramuka Bank Restructuring Committee meets CB officials today

• Big boost for Lanka, Egypt trade ties

• Mixed fortunes for tea producers

• FMO, LOLC agreement for fund leasing activities

• Pavilion for Lankan apparel exporters

• Travel

• Business in brief

• COLOMBO STOCK EXCHANGE - MARKET STATISTICS

• EXCHANGE RATES & COCONUT PRODUCT PRICES