TAILIEUCHUNG - International Centre for Asset Recovery (ICAR) Business Plan 2011-2013

While the share of adults who report having taken out new loans in the past 12 months is surprisingly consistent around the world, the sources and purposes for these loans are extremely diverse. Globally, 9 percent of adults report having originated a new loan from a formal financial institution in the past 12 months—14 percent of adults in high-income economies and 8 percent in developing econo- mies. In addition, about half of adults in high-income economies report having a credit card, which might serve as an alternative to short-term loans. In developing economies only 7 percent report having one. Seven percent. | GOVERNANCE BASEL INSTITUTE ON GOVERNANCE International Centre for Asset Recovery ICAR Business Plan 2011-2013 Adopted by Board of the Basel Institute on Governance on 22 July 2010 1. Introduction Corruption is a major impediment to economic growth social stability and poverty reduction. Most burdensome to developing and transition countries is the fact that high-level corruption plunders national wealth when resources are badly needed for investments into important public services such as health education and economic development. The World Bank estimates that each year 2040 billion USD are stolen from developing countries. Successful asset recovery cases are a strong signal of countries demonstrating that corruption no longer pays. Recovering stolen assets is a fundamental principle within the international framework for fighting corruption and impunity. This principle is enshrined in Chapter V of the UN Convention against Corruption UNCAC which came into force in 2005. Shortly thereafter the Basel Institute on Governance established the International Centre for Asset Recovery ICAR with the support from the Governments of Switzerland the United Kingdom and the Principality of Liechtenstein. In 2007 the United Nations Office for Drugs and Crime UNODC and the World Bank jointly launched the Stolen Assets Recovery Initiative StAR . In the summer 2009 in Pittsburgh the G-20 subsequently confirmed that its members should increase support for asset recovery programs that aim to reduce corruption and improve governance by monitoring and recovering public resources in poor countries. In December 2009 the UN General Assembly took note of the existing cooperation between the ICAR with the StAR initiative. Only just recently in June 2010 a Global Forum on Stolen Asset Recovery and Development jointly organised by the Swiss Government and the World Bank stressed the urgent need to strengthen the asset recovery framework. This Forum also re-iterated the strong nexus between .

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