UN calls for united efforts against corruption for development, peace and security

UN calls for united efforts against corruption for development, peace and security

Corruption attacks the foundation of democratic institutions by distorting electoral processes, perverting the rule of law and creating bureaucratic quagmires, Panorama.am writes citing United Nations Development Foundation (UNDP) report. December 9 marks the UN-recognized International Anti-Corruption Day, marked annually since 2004.

According to the United Nations, every year US$ one trillion is paid in bribes while an estimated $2.6 trillion are stolen annually through corruption – a sum equivalent to more than 5 per cent of the global GDP. In developing countries, according to UNDP, funds lost to corruption are estimated at 10 times the amount of official development assistance.

Corruption is a serious crime that can undermine social and economic development in all societies. No country, region or community is immune, the source says, adding, this year UNODC and UNDP have developed a joint global campaign, focusing on how corruption affects education, health, justice, democracy, prosperity and development.

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