A corrupt official takes an illegal bribe.
Why does matter? And if it does matter, what can we do about it?
This isn’t just about morality. Research shows that corruption raises the cost of doing business and reduces economic growth. A 1% reduction in corruption perception scores can raise growth by 0.57% in developed economies and by 0.65% in less developed economies.
The UK has long sought to tackle corruption internationally through capacity building and technical assistance. We believe this is an important way to improve economic development and well-being. Again, this isn’t just altruism. The stronger the economies of the countries we trade with, the better it is for both them and us – a classic “win-win”.
At the end of last year, the British Government published its new Anti-Corruption Strategy for 2017-2022, which reaffirms the UK’s commitment to tackle corruption through international organisations such as the UN Office on Drugs and Crime, based here in Vienna. The UNODC helps UN member states to implement their commitments under the UN Convention Against Corruption (UNCAC) with practical programmes focused on, for example, asset recovery.
Indeed, the UK are so impressed by the work of the UNODC that we have just agreed to provide over $600,000 US Dollars of support to the UNODC’s work in this area in the current financial year, with more significant funding being considered for future financial years. We are confident that this will help reduce poverty and improve growth in key countries, helping to build capacity in their legal and policy frameworks.
I look forward to continuing to support UNODC in this vital area, together with the rest of the UK Mission to the UN and International Organisations, here in Vienna.
Together we can make a difference.