Africa
International Development
Rushanara Ali (Bethnal Green and Bow, Labour)
To ask the Secretary of State for International Development when he was informed that the European Investment Bank'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 ongoing investigations.
OLAF is a strong anti-fraud agency with a good track record for
investigating such cases thoroughly.
