Combatting and preventing corruption is key to sustainable financing

To mark the International Anti-Corruption Day, Nefco confirms its commitment to combat corruption and to support responsible and ethical business practices.

Today on 9 December is the International Anti-corruption Day. Preventing corruption, promoting transparency and strengthening institutions is crucial if the targets foreseen in the global Sustainable Development Goals are to be met. Nefco wants to take this opportunity to confirm its commitment to combat corruption and to support responsible and ethical business practices.

Nefco is an International Finance Institution (IFI) financing green and sustainable projects with both its own capital and through trust funds it administers. We are committed to ensuring that Nefco funds are used only for the intended purposes by the intended beneficiaries.

At Nefco, we fight corruption by training, tools and procedures, such as:

  • We have solid policies in place, aligned with IFI standards, clearly prohibiting any form of corruption in any Nefco activity which applies to staff, consultants, Board members and any beneficiary of Nefco funds.
  • We have procedures for reporting and investigating corruption and other prohibited practices, and a system to debar individuals or entities that engage in corruption, which means they can be excluded from benefiting from Nefco financing in the future.
  • Our procurement policy and procedures require open, fair and transparent procedures for awarding public sector contracts goods, works and services, to ensure funds are used for their intended purposes and procuring entities can be held accountable.
  • Nefco makes thorough integrity due diligence reviews of potential clients to identify increased risk of money laundering or other red flags.
  • Our staff and consultants closely monitor the implementation of our projects to ensure proper implementation and to identify and concerns in relation to timing or quality.
  • All disbursements of Nefco funds are made only after thorough internal checks.

Our Ethics and Compliance function leads our work on integrity, ethics and accountability issues and it is independent of the operational departments.

Read more about Nefco’s Ethics and Compliance

Read more about the UN Convention and the International Anti-Corruption Day | United Nations

For more information, please contact:

Linda Lundqvist, Chief Ethics and Compliance Officer, +358 10 6180 618

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