Belize has signed a "corruption free zone" agreement as the Inter-American Development Bank Wednesday offered to help guarantee transparency in the mega infrastructure projects planned by countries in Latin America and the Caribbean.

Speaking at the opening of an international anti-corruption conference, organized by Transparency International, IDB President Luis Alberto Moreno noted that the major challenges raised by mega projects could also become great opportunities to put an end to corruption.

"As we all know, the history of mega projects in Latin America has not always been exemplary in terms of transparency. We cannot repeat those mistakes."

Moreno reported that Latin American and Caribbean countries and multilateral organizations have expressed unprecedented interest in cooperating in the fight against corruption.

Heads of state and high-ranking officials from Belize, Costa Rica, the Dominican Republic, El Salvador, Guatemala, Honduras, Nicaragua and Panama have signed a declaration for a "corruption-free zone" during the conference.

The IDB said it was prepared to support its borrowing member countries in fulfilling their commitments under international agreements such as the Inter-American Convention Against Corruption, and the United Nations Convention against Corruption.

"You can be certain that the IDB will be a steadfast ally of governments that wish to convert the recommendations made in the conventions into reality. We have the resources, we know the region and we are more than willing to face this challenge together," said Moreno.

As the primary source of multilateral financing for Latin America and the Caribbean, the IDB recognizes that corruption is a risk in practically every one of its areas of activity, and that it can prevent the Bank from fulfilling its mission of promoting economic and social development in the region.

Accordingly, the IDB said it does not consider itself the "corruption police," but rather a partner of its member countries to help them in their efforts to fight fraud and abuse in the public sector.

"The IDB has a considerable portfolio of projects for institutional strengthening of judicial systems, comptroller's offices and agencies for administrative oversight, with an emphasis on preventing corruption. Other projects have financed modernization of government systems for procurement, customs and taxes in several countries."

In 2005 the Office of Institutional Integrity received 138 reports from inside and outside the IDB of alleged cases of fraud, extortion, bribery and contract manipulation. The office also completed 144 investigations that, where justified, led to sanctions such as banning individuals and companies from doing business with the IDB.