COCIR Wins Funding from the Siemens Integrity Initiative for its Code of Conduct Expansion

Brussels – 21 February 2011 COCIR is delighted to be one of more than 30 projects selected for funding under the Siemens Integrity Initiative for the expansion of its Code of Conduct.

On 9 Dec. 2010, Siemens AG announced the first anti-corruption projects that will receive financing from the US$100 million Siemens Integrity Initiative to promote clean markets. This initiative is part of the World Bank-Siemens AG comprehensive settlement* that was agreed on July 2, 2009. An initial tranche of US$40 million will be distributed to more than 30 initiatives from over 20 countries that have been selected. Around 300 non-profit organizations from 66 countries had applied for funding during the first round.

“We welcome the company’s initiative and clear commitment to the principle that only clean business is good, sustainable business“, said Leonard McCarthy, Integrity Vice President of the World Bank Group. “Corruption steals from the poor, and it can only be tackled on a joint basis. The projects of the Siemens Integrity Initiative will help strengthen the will to combat corruption worldwide and improve conditions for everyone.”

Since the launch of the COCIR Code of Conduct in June 2009, COCIR has received requests from countries all over the world showing interest in adopting the Code. The expansion project which is to run for 3.3 years will allow the enlargement of the Code of Conduct globally as well as will expand its scope. The expanded COCIR Code of Conduct will provide an effective and efficient process to further align the healthcare and IT industry on complying with business ethics rules.

COCIR was one of two successful projects in the healthcare sector to win funding from the Siemens Integrity Initiative for compliance-related projects. In concrete terms, the $961,000 project will allow COCIR to employ a full-time lawyer to coordinate the enlargement of the Code of Conduct in terms of content and geography and will enable its accelerated deployment beyond Europe.

COCIR Secretary General, Nicole Denjoy, said “COCIR is delighted to have the recognition through the World Bank-Siemens initiative for its Code of Conduct. The expansion of the COCIR Code of Conduct is particularly important to our members who are global companies seeking compliance and harmonisation in international markets.”

(*) Background: The comprehensive settlement with Siemens arose out of a World Bank investigation and the company’s acknowledgment of past misconduct in its global business. As part of the settlement, Limited Liability Company Siemens (OOO Siemens), a Russian subsidiary of Siemens AG, has been debarred for four years in connection with violations committed prior to 2007. The findings resulted from an investigation by the World Bank's Integrity Vice Presidency into fraudulent and corrupt practices under the Bank financed "Moscow Urban Transport Project".

More information available on website under "Status first funding round"

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