WASHINGTON, Jan. 30 (Xinhua) -- Anti-corruption agenda is an important part of broader good governance efforts, while combating corruption has been and will continue to remain one of World Bank' s top priorities, World Bank President Jim Yong Kim said here Wednesday.
"When corruption is discovered in our projects and activities, we have zero tolerance for it," Kim said in a speech at an event hosted by the Center for Strategic and International Studies (CSIS) , a Washington-based think tank.
Public institutions deliver vital services such as health and education, upon which the poor are particularly dependent. Corruption subverts and undermines all these functions and as such serves as a major impediment to development, Kim noted.
When corruption seeps into the social sector, it means that a hospital is built without life-saving equipment or that a school is built without adequate salaries for teachers, he added.
Research by the World Bank and others has demonstrated that there is a negative association between growth and corruption and it is a significant cost for businesses, he said.
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