Corruption is an important issue and throws up some interesting problems and dilemmas.
Private sector led development can never be free of crony capitalism, and the early days of capitalist development in most countries were fraught with challenges and opportunities, many of which were abused as well as being used.
In our country, industrial development financed by large industrial development banks (BSB, BSRS, IDB) created the default culture, but also led to a number of factories/industries being set up. The default culture was the direct result of a highly skewed debt:equity ratio adopted by most of the industrial development banks in financing new projects, disproportionately in favour of debt rather than equity.