International Anti-Corruption Day 2022: History, significance and facts

The commemoration of International Anti-Corruption Day takes place every year on 9 December. The day aims to raise awareness about corruption. Corruption adversely affects every aspect of society and jeopardizes social and economic development. Corruption not only leads to conflict but is also frequently one of its root causes as per the United Nations (UN). By worsening poverty, undermining the rule of law, causing illicit use of resources, and financing armed conflict, corruption inhibits the peace processes. According to the UN, it is important to promote transparency, prevent corruption, and strengthen institutions for achieving the targets of the Sustainable Development Goals (SDGs). History The UN General Assembly adopted the United Nations Convention against Corruption on 31 October 2003. The Assembly requested designating the United Nations Office on Drugs and Crime (UNODC) as the secretariat for the Convention’s Conference of States Parties. It also declared 9 December as International Anti-Corruption Day in its attempt to raise awareness about corruption and the Convention’s role in preventing it. Significance Corruption distorts electoral processes, and forms bureaucratic quagmires whose sole reason to exist is the solicitation of bribes. Corruption creates hurdles in the development of an economy as foreign direct investment is reduced and small businesses find it difficult to overcome the start-up cost needed. Here are some of the facts about corruption as provided by UNODC: Over $1 trillion is paid in bribes every year globally according to the World Bank. The brother of former Mexican President Carlos Salinas had amassed $120 million through corruption. The World Bank estimated that this amount could have covered the yearly healthcare costs of above 594,000 Mexican citizens. An estimated $2.2 billion was looted and exported by the late Nigerian dictator Sani Abacha and members of his inner circle. According to estimations of the World Bank, 70 per cent of the Nigerian population survives on less than $1 per day. A report examining the judiciary of 48 nations, revealed that judicial corruption was pervasive in 30 of them. Countries that fight corruption can improve their national income by 400 per cent. Read all the Latest News , Trending News , Cricket News , Bollywood News , India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.