Egypt joins international program to end corruption and money laundering

In hopes of recovering billions of dollars of public funds from bank accounts and other assets beyond its national borders, Egypt's Ministry of State for Administrative Development has joined a long-term project with the United Nations and European Union to confront corruption and money laundering in its different forms.

The joint anti-corruption project was launched on Tuesday under the slogan "Supporting Measures to Combat Corruption, Money Laundering, and Fostering Asset Recovery in Egypt." The project, which is funded by the EU, reportedly aims at establishing effective mechanisms to confront corruption in Egypt, and to facilitate asset-recovery procedures.

It also aims at establishing a framework through which to enforce the UN Convention Against Corruption, which Egypt signed in December 2003, and ratified in February 2005.

The launch event took place at the ministry's headquarters under the chairmanship of Ashraf Abdel Wahab, deputy minister of state for administrative development; and under the auspices of Mohamed Abdel Aziz, regional director of the UN Office on Drugs and Crime (UNODC); along with Marc Franco, ambassador of the EU delegation to Egypt.

According to Abdel Wahab, Egypt's partnership in the program is of vital importance since "the [25 January] revolution does not have a magic wand with which to make corruption disappear.

"We urgently need new legislation, the enforcement of existing laws and legal mechanisms, along with governmental reforms, public-awareness initiatives, and a radical shift in Egypt's understanding of corruption," said Abdel Wahab. "This process will take time."