France blacklists PH, 16 other countries because they "do not help investigate foreign aid fraud"

Agence France-Presse reports via ABS-CBNNews.com that the Philippines remains included in France's updated blacklist of countries "that do not help investigate foreign aid fraud." The European country has banned the use of the blacklisted nations' banks "to help distribute development funds" following the release of the list on Monday.

Agence France-Presse (AFP) reports via ABS-CBNNews.com that the Philippines remains included in France's updated blacklist of countries "that do not help investigate foreign aid fraud." The European country has banned the use of the blacklisted nations' banks "to help distribute development funds" following the release of the list on Monday, May 27.

 

The report explained, "The blacklist expands on an already-established register of eight 'non-cooperative states and territories' that already includes Botswana, Brunei, Nauru, Guatemala and the Philippines... It adds Switzerland, Lebanon, Panama, Costa Rica, the United Arab Emirates, Dominica, Liberia, Trinidad and Tobago, and Vanuatu."

 

French officials justified the release of the blacklist by saying that "there was a lack of transparency in the nations on the list," and noted that poor and developing countries "were often the main victims of fraud."

 

For more on this story, log on to ABS-CBNNews.com.

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