World Bank lacks transparency, purpose ' Should it be closed?
BUSINESS.
Vikas Shekhawat.
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# Bank is facing huge losses , from bid-rigging, bribes, poor quality of goods and services and other problems in lending operations to poor countries.
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# Former Bank President Paul Wolfowitz's disgraceful ouster has marred the institution's integrity.
# The report has exposed the 'severe strains' between the bank and borrowers and funding partners.
#The Bank's anti-corruption unit needs a serious overhaul amidst allegations of being incompetent and politically biased.
#The World Bank is a mere puppet in hands of US and Europe and corruption in 'undisclosed' projects is ruining the interest of the poorest countries.
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