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ICC Rules of Conduct : International financial institutions
Role of international financial institutions
International financial institutions, e.g., the World
Bank, the European Bank for Reconstruction and Development, should aim
to make a significant contribution to the reduction of extortion and bribery
in international business transactions. They should take all reasonable
steps to ensure that corrupt practices do not occur in connection with
projects which they are financing.
Similarly, in negotiating cooperation agreements with
non-member countries, whether countries with economies in transition or
developing nations, the governing or coordinating bodies of the European
Union, NAFTA, ASEAN and other regional institutions, should seek to satisfy
themselves that appropriate legislation and administrative machinery to
combat extortion and bribery exists in the countries concerned.
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