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Africa: World Bank warns of diversion of development aid

Africa: World Bank warns of diversion of development aid

An internal World Bank report reveals that much of the development aid intended for the African continent in particular is diverted to offshore financial centres.

 

Lebanon: The CEO of the Central Bank suspected by Switzerland of aggravated money laundering

Lebanon: The CEO of the Central Bank suspected by Switzerland of aggravated money laundering

In January 2020, the Lebanese judiciary requested legal aid from Switzerland concerning ‘suspicious’ money transfers. In January 2021, it was the turn of the Swiss justice system to apply to Lebanon concerning a possible embezzlement of funds “to the detriment of the Central Bank of Lebanon”.