New Delhi, May 6 -- The European Bank for Reconstruction and Development has launched a new anti-corruption push after uncovering fraudulent conduct tied to internationally financed reform and infrastructure projects in Moldova and Kyrgyzstan, exposing governance vulnerabilities inside development programs backed by Western financial institutions.

The London-based lender announced sanctions against Moldovan national Denis Bejan following an investigation into a conflict-of-interest case connected to the Reform Support Teams programme, an initiative designed to embed policy advisers inside Moldovan state institutions as part of a wider Western-backed reform agenda.

According to findings released by the EBRD's Office of the Chief Complian...