The United States, through USAID, will provide up to $30 million over five years to support multi-country initiatives addressing corruption across sectors.
According to the initiative, efforts will be expanded to counter corruption in high-risk, high-opportunity sectors such as real estate, extractives, infrastructure, and pharmaceuticals.
The funding will also prioritize key reforms, including improving asset recovery, disclosing beneficial ownership, and closing loopholes that facilitate illicit finance and money laundering.
Nairametrics learns that the funding is set to systematically address widespread governance weaknesses which are commonly exploited by corrupt actors.
This funding aims to strengthen the necessary systems and entities to close loopholes, identify illicit financial activities and illegal funds, trace their movement across borders, and ultimately bring corrupt actors to justice.
What the funding sets to achieve
The project will offer impactful assistance to enhance a country’s resilience against transnational corruption, grand corruption, and kleptocracy.
At the regional and global levels, the award will support multi-country initiatives to strengthen international cooperation in tracking and preventing transnational corruption.
Additionally, it will test tools and approaches to advance anti-corruption practices.
This initiative is a central component of USAID’s comprehensive efforts to combat transnational corruption, aligning with USAID’s Anti-Corruption Policy and serving as a significant outcome of the Presidential Initiative for Democratic Renewal, introduced by President Biden at the first Summit for Democracy in 2021.
The program will be executed by a dynamic consortium comprising leading global organizations and local reformers actively engaged in cutting-edge anti-corruption initiatives.
The Global Accountability Program/Strengthening National Architectures to Counter Corruption Activity will augment USAID’s capabilities in countering corruption, furthering the mission of USAID’s new Anti-Corruption Center to revolutionize the fight against corruption, both domestically and internationally, and mitigate corruption’s adverse effects on development and democracy.