Corruption has long been recognised as a major impediment to development. From massive theft of state assets to the low-level corruption that erodes productivity and weakens service delivery, corruption steals from the poor and erodes progress.
Corruption takes many forms. It is the foreign company that pays kickbacks or bribes to get preferential treatment, leaving poor countries with devalued goods or services. It is the public officer who betrays the people he is charged to assist for financial favours. It is the town that has no school or health clinic because local officials have stolen the money that would have built them. And it is prescriptions that don’t cure—or could kill—because someone has diluted them or substituted counterfeit medicines.
Interested please read this excellent World Bank blog article written by Mari Elka Pangestu, 23 September 2020.