"The Financial Times recently acquired a draft report by the United Nations Development Program (UNDP) of audit and investigations, outlining how "fraud and corruption" have been linked to the multibillion-dollar Global Environment Facility (GEF).
FT examined the draft report which described "financial misstatements" that were discovered across UNDP's portfolio of GEF-funded projects around the world.
GEF was set up in the early 1990s with the World Bank to combat climate change.
Its main objectives have been to help fight environmental challenges such as deforestation, species preservation, and pollution control. In recent years, GEF has become an independent organization with more than $21 billion dispersed in 170 countries, including $7 billion in projects managed by UNDP...Read all.
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