The World Bank Group has released its Sanctions System Annual Report for the fiscal year 2024. The report highlights efforts to ensure that project funding is used appropriately and reaches those in need.
The sanctions system, comprising the Integrity Vice Presidency, the Office of Suspension and Debarment, and the Sanctions Board along with its Secretariat, plays a crucial role in maintaining accountability. "When World Bank Group project funding is not used for its intended purpose, it hurts the poorest and most vulnerable people," states the report.
This document provides an overview of how these entities have worked together to monitor and enforce proper use of funds, aiming to protect resources meant for development projects.