Siemens Integrity Initiative
On July 2, 2009, the World Bank Group announced a comprehensive settlement with Siemens. As part of the settlement, Siemens agreed to co-operate to change industry practices, clean up procurement practices and engage in Collective Action with the World Bank Group to fight fraud and corruption. As a result of this commitment, Siemens has set up the US$ 100 million Siemens Integrity Initiative and launched a global call for expressions of interest to attract a wide range of proposals on December 9, 2009. The World Bank Group will have audit rights over the use of these funds and veto rights over the selection of anti-corruption groups or programs receiving funds. The BAAC Nigeria Project (CBi in partnership with CBC) was successful in securing funding through this process. A workplan has been drawn up and activities have commenced on the project.