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The money is not actually missing*. Oxfam attempted to add up all the numbers in various PDFs linked on the World Bank's website and got a total that's less th

The money is not actually missing*. Oxfam attempted to add up all the numbers in various PDFs linked on the World Bank's website and got a total that's less than the headline figure in the World Bank's press releases. (See the actual report at https://oxfamilibrary.openrepository.com/bitstream/handle/10546/621658/bp-climate-finance-unchecked-241017-en.pdf?sequence=6 https://oxfamilibrary.openrepository.com/bitstream/handle/10...) Some of that is probably missing data and some of it reflects that headlines like "USA donates 1 billion" don't actually always result in the US making a bank transfer for a billion dollars. For example sometimes it's a simplification of a complicated loan. Your comment reflects a common misconception about audits. When the books don't add up that doesn't show that money is actually missing. I don't love analogies to personal finance but a better one would be to suppose you asked a random US citizen what they spent money on last month and then compared it to their bank account. They'd probably be wrong, and you probably wouldn't have enough information to know exactly how wrong they were because they didn't save all their receipts and so on. *edit: this report provides no evidence money is missing. to be fair it doesn't disprove missing money either

hn_throwaway_99 2y ago
Great comment. On one hand I like what Oxfam has done, which is to show that the World Bank has poor financial controls and should do a much better job tracking where funds are actually spent. On the other hand I don't like how this is reported/interpreted (and Oxfam I think deserves some blame for how their investigation is characterized) as "there is a ton of fraud at the World Bank". That's simply not accurate, and your edit sums up the situation very well
esperent 2y ago
> they didn't save all their receipts and so on This analogy explains well but it's missing the important bit: private citizens don't have any requirement to save receipts. Charities and businesses do have that requirement.

hn_throwaway_99 2y ago

Great comment. On one hand I like what Oxfam has done, which is to show that the World Bank has poor financial controls and should do a much better job tracking where funds are actually spent. On the other hand I don't like how this is reported/interpreted (and Oxfam I think deserves some blame for how their investigation is characterized) as "there is a ton of fraud at the World Bank". That's simply not accurate, and your edit sums up the situation very well

esperent 2y ago

> they didn't save all their receipts and so on This analogy explains well but it's missing the important bit: private citizens don't have any requirement to save receipts. Charities and businesses do have that requirement.