Concerns over corruption has led to the World Bank withholding $33 million

Concerns over corruption has led to the World Bank withholding 33 million dollars in loans to finance road-building projects in the Philippines, the multilateral lender said Monday.
The lender rejected two road contracts totalling 33 million dollars between 2003-2006 owing to "strong signs of collusion and excessive pricing," World Bank vice president Jim Adams said in a statement. Although 90 percent of the projects have been completed two provincial roads, which were to have been funded by the World Bank, were scrapped.
After an investigation, the World Bank imposed more stringent conditions on funding for the planned second stage of the project, which has since been delayed. Adams said the new conditions included "stringent anti-corruption measures" developed jointly by the World Bank and the Philippine government.