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Budget 2007: 2007-08 Aid Budget: Anti-corruption for development.

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DFAT 17 8 May 2007

2007-08 Aid Budget Anti-Corruption for Development

Continuing the fight against corruption in the Asia-Pacific region, the Government will provide $16.7 million in 2007-08 for high-priority projects. Progress in reducing corruption is essential to ensure expanded aid investments are effective.

Corruption damages development prospects in many countries, undermining the effective allocation of resources, harming economic growth and widening the gap between rich and poor. The World Bank estimates that countries that tackle corruption and improve the rule of law can increase their national incomes four-fold in the long term.

This initiative will implement the Government’s anti-corruption for development policy, Tackling Corruption for Growth and Development, released by the Minister for Foreign Affairs in March 2007.

Assistance will support local demand for anti-corruption reform and greater public accountability, as well as limit incentives and opportunities for corruption by strengthening public finance systems (such as payroll and procurement), oversight institutions (such as audit) and capacity for investigations and prosecution.

Media contacts: AusAID (Public Affairs) 0417 680 590 Minister’s Office 02 6277 7500