European Parliament Resolution on Aid Effectiveness and Corruption in Developing Countries

Corruption costs African economies more than 25% of Africa's GDP annually. According to the Parliament notice, the European parliament asks in its resolution to establish an international system of blacklisting to prevent banks from lending large sums of money to corrupt regimes or individuals representing a government.

Among other things, the Parliament calls on the Commission to focus more specifically, in designing its development programmes, on issues of accountability and transparency, “as weak accountability mechanisms tend to facilitate corruption”. It also stresses that increased attention should be paid to the role of civil society in fostering voluntary control of corruption and supports the “Publish What You Pay” campaign that calls for multinationals to disclose information about payments to governments.