The White House, President George W. Bush Click to print this document

For Immediate Release
Office of the Press Secretary
June 10, 2004

Fighting Corruption Fact Sheet
Fact Sheet: Fighting Corruption and Improving Transparency

Presidential Action

President Bush and the Other G-8 Leaders Launched Four Transparency compacts with the Republic of Georgia, Nicaragua, Nigeria, and Peru to provide assistance in achieving high standards of transparency in public financial management, procurement, the letting of public concessions, and the granting of licenses.

G-8 Action: The World Bank has identified corruption as "the single greatest obstacle to economic and social development." The G-8 are determined to roll back corruption. Building on the G-8 Anti-Corruption and Transparency Action Plan, the G-8 Leaders agreed to four transparency compacts through which G-8 participants will:

U.S. Actions: The U.S. has taken the lead in the global fight against corruption. On January 12, 2004, President Bush issued a proclamation to deny entry into the United States of corrupt foreign officials, their dependents, and those who corrupt them. The U.S. also led international efforts to gain agreement on the U.N. Convention Against Corruption.

Other G-8 Initiatives: The G-8 recently has taken additional actions to promote transparency. Specifically, the G-8:

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