James S. Henry

Submerging Markets.com

Saturday, November 1, 2003

 

In principle, First World development banks and
export credit agencies could curb corrupt behaviour by transnational
companies in developing countries but apparently don’t want to offend
their First World constituents by doing so. This article, Part 3 in a series, takes a close look at a recent case, Lesotho’s Highland Water Project (LHWP), a huge World Bank-financed dam project where a half dozen leading Canadian and European engineering and construction firms are now being prosecuted for bribery by one of southern Africa’s smallest, most poverty-stricken countries.