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How else have the MDBs that have signed the agreement harmonized their work?
Participating multilateral development banks (MDBs) had many requirements to fulfill before an accord could be concluded. All five MDBs adopted the harmonized definitions of sanctionable practices and the investigative guidelines as outlined in the 2006 Uniform Framework.
The investigation guidelines set out due process rights afforded to the subject of an investigation and set the standard of proof as “more probable than not”. Each Organization is required to maintain its own investigation office and sanctions system.
The participating MDBs are continuing to develop a harmonized approach to investigating and sanctioning. Most recently, they have agreed to jointly develop guidelines on the nature and severity of sanctions imposed as well as guidelines on how to deal with entities that reorganize following a decision to impose a sanction.
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