This is from the WallStreetJournal.
The article doesn't say the investigation didn''t find any corruption just that it was finished. Does this mean there was no corruption or that whatever there was is now officially sanctioned!?
World Bank Releases Loan to the Philippines
By Bob Davis
WASHINGTON -- The World Bank's governing board approved a $232 million loan to build roads in the Philippines, which it had opposed in October on concern about corruption allegations.
When the board blocked the loan, World Bank president Robert Zoellick hadn't been briefed on the proposal, and an investigation into alleged graft hadn't been completed. Investigators had uncovered evidence that China State Construction Engineering Co., a state-owned company, was involved in bid rigging on an earlier construction-loan program, bank officials said.
The investigation has been completed, a World Bank official said, and the board unanimously approved the loan Tuesday.
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