Today, the White House released the first ever U.S. Strategy on Countering Corruption. The Strategy recognizes that curbing corruption, and related illicit acts, starts with limiting the ability of kleptocrats, corrupt actors, and transnational criminal organizations to use the United States and other destination countries to stash their stolen assets. These commitments, along with the new Treasury Department proposed rulemaking on the real estate sector earlier today, address vulnerabilities in the U.S. financial system that corrupt actors exploit. The Strategy also outlines how the United States is integrating the fight against corruption into our foreign assistance, our multilateral diplomacy, our security partnerships, and our bilateral relationships. As the Fact Sheet accompanying the Strategy underscores, today “marks a new chapter in the United States’ efforts to curb corruption’s harmful effects.”
In support of this comprehensive U.S. government strategy, USAID is using its policy voice, public engagement, and programming to prevent corruption and mitigate the damage it inflicts on development and democracy. We are expanding our support to governmental, civil society, media, and private sector actors that are on the frontlines of combating corruption at the local, national, regional, and global levels. At the same time, we are transforming our ways of working to counter the threat of corruption — improving our ability to respond to windows of opportunity for progress; diversifying our anti-corruption partnerships; and exploring the use of innovative approaches, tools, and technologies.
As USAID Administrator Power has noted recently, “corruption is basically development in reverse.” It harms long-term economic development, scares away private sector investment, and deepens inequality. It also disproportionately harms the most marginalized in a society — the very people our assistance is intended to help. That is why USAID has made anti-corruption one of its key priorities. Additional details about USAID’s approach are available at this new webpage.