World Bank debars Serbian contractor for fraudulent practices

Sunday, January 06, 2013
World Bank Headquarters in Washington, DC
[PHOTO: Shiny Things/CC BY 2.0] 
Washington: The World Bank Group has announced the debarment of Energoprojekt Niskogradnja, a Serbian civil engineering and contracting company - for a period of 2.5 years following the company’s acknowledgment of misconduct in a Bank-financed roads and development project in Uganda.

The 2.5 years debarment is part of a Negotiated Resolution Agreement between Energoprojekt and the World Bank Group following an investigation by the World Bank Integrity Vice Presidency.

“This case is just another example of why fighting corruption matters for the World Bank as well as for companies that are engaged in development projects,” said Leonard McCarthy, World Bank Integrity Vice President.  “Clean business is smart business.  We will pursue our efforts to maximize the value of infrastructure development,” he said.

Under the agreement, Energoprojekt Niskogradnja commits to cooperate with the World Bank’s Integrity Vice Presidency and continue to improve their internal compliance program.

This debarment qualifies for cross-debarment by other MDBs under the Agreement of Mutual Recognition of Debarments that was signed on April 9, 2010.

The World Bank Integrity Vice Presidency (INT) is responsible for preventing, deterring and investigating allegations of fraud, collusion and corruption in World Bank projects, capitalizing on the experience of a multilingual and highly specialized team of investigators and forensic accountants.
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