The World Bank (WB) has clarified that former director of Nepal Rastra Bank (NRB) Rajan Singh Bhandari, who was allegedly involved in irregularities in the Second Financial Sector Restructuring Project (FSRP) of Nepal Rastra Bank, is innocent.
In a confidential letter sent to Bhandari on October 24, the World Bank said Bhandari is not guilty in the corruption case. "The World Bank regrets that the leakage of the report has brought much concern and trouble to you,” the letter obtained by Republica states.
The report is a confidential referral report in relation to FSRP, the WB said. Earlier, a report received by Republica, had implicated Bhandari in misconduct in relation to FSRP.
Sources of NRB now claim that NRB employees had hatched a ploy to insert ´paragraph 5´ and ´Recommendations Section´ in the report to implicate Bhandari with misconduct.
WB has also said "the original report did not include paragraph 5 nor a Recommendations Section".
The letter, which has been signed by WB´s Integrity Vice-President Leonard F McCarthy, also urges the government to take appropriate action on the issue.
Bhandari is the incumbent CEO of Citizens Bank International Ltd and also the president of Nepal Bankers´ Association.
NRB had implemented FSRP with the support of World Bank from 2004 to 2009. Erstwhile Governor Bijayanath Bhattarai was suspended on the charge of corruption while appointing a consultant for FSRP. However, he later got a clean chit from the Supreme Court.
source: republica,17 nov 2014
LINK
In a confidential letter sent to Bhandari on October 24, the World Bank said Bhandari is not guilty in the corruption case. "The World Bank regrets that the leakage of the report has brought much concern and trouble to you,” the letter obtained by Republica states.
The report is a confidential referral report in relation to FSRP, the WB said. Earlier, a report received by Republica, had implicated Bhandari in misconduct in relation to FSRP.
Sources of NRB now claim that NRB employees had hatched a ploy to insert ´paragraph 5´ and ´Recommendations Section´ in the report to implicate Bhandari with misconduct.
WB has also said "the original report did not include paragraph 5 nor a Recommendations Section".
The letter, which has been signed by WB´s Integrity Vice-President Leonard F McCarthy, also urges the government to take appropriate action on the issue.
Bhandari is the incumbent CEO of Citizens Bank International Ltd and also the president of Nepal Bankers´ Association.
NRB had implemented FSRP with the support of World Bank from 2004 to 2009. Erstwhile Governor Bijayanath Bhattarai was suspended on the charge of corruption while appointing a consultant for FSRP. However, he later got a clean chit from the Supreme Court.
source: republica,17 nov 2014
LINK
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