Africa
International Development
Caroline Lucas (Brighton, Pavilion, Green)
To ask the Secretary of State for International Development when the board of the European Investment Bank (EIB) was informed that EIB's involvement in Emerging Capital Partner's Africa Fund II was being investigated by the European Anti-Fraud Office.
Alan Duncan (Minister of State, International Development; Rutland and Melton, Conservative)
European Investment Bank (EIB) officials informed UK and other member state officials on April 18, 2012 that, in line with the bank's policy, its independent Inspector General
had conducted a preliminary investigation into allegations of
corruption in connection with the Emerging Capital Partner's Africa II fund, and had referred the matter to the European Anti-Fraud Office (OLAF).
The
EIB has a zero-tolerance policy on corruption, fraud, money laundering
and the financing of terrorism in connection with projects it finances.
Investigations of such allegations are an internal matter for the bank
and shareholders are not regularly informed of on-going investigations.
OLAF is a strong-anti fraud agency with a good track record for
investigating such cases thoroughly.
