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WB debars SNC-Lavalin Inc for 10 yrs over Padma Graft
daily sun | | WB debars SNC-Lavalin Inc for 10 yrs over Padma Graft
DHAKA: The World Bank cuts off ties with Canadian company SNC-Lavalin Inc and its over 100 affiliates for ten years as Padma bridge graft allegations as well as misconduct under another Bank-financed project were proved.
SNC-Lavalin Inc is a subsidiary of SNC-Lavalin Group, a Canadian company, and represents more than 60 percent of its business.
The debarment is part of a Negotiated Resolution Agreement between the World Bank and SNC-Lavalin Group following a WB-investigation into allegations of bribery schemes involving SNC-Lavalin Inc. and officials in Bangladesh, according to a message received here.
While the investigation was on, the World Banks Integrity Vice Presidency also learned of misconduct by SNC-Lavalin Inc in relation to the World Bank-financed Rural Electrification and Transmission project in Cambodia.
The debarment can be reduced to eight years if the companies comply with all conditions of the agreement. The remainder of the SNC-Lavalin Group has been conditionally non-debarred for the same period of time.
Under this sanction, the remainder of SNC-Lavalin Group faces debarment if they fail to comply with the terms and conditions of the Agreement.
"This case is testimony to collective action against global corruption, said Leonard McCarthy, World Bank Integrity Vice President. Once we had evidence of the companys misconduct, we referred the matter to the Royal Canadian Mounted Police whilst the World Bank finalized its investigation. Going forward, I hope that SNC-Lavalins commitment under this agreement represents meaningful action in deterring the risks of fraud and corruption to development projects.
SNC-Lavalins misconduct involved a conspiracy to pay bribes and misrepresentations when bidding for Bank-financed contracts in violation of the World Banks procurement guidelines.
Under the Agreement, the SNC-Lavalin Group and its affiliates commit to cooperating with the World Banks Integrity Vice Presidency and continuing to improve their internal compliance program. The debarment of SNC-Lavalin Inc. qualifies for cross-debarment by other MDBs under the Agreement of Mutual Recognition of Debarments that was signed on April 9, 2010.
-UNB
daily sun | | WB debars SNC-Lavalin Inc for 10 yrs over Padma Graft
DHAKA: The World Bank cuts off ties with Canadian company SNC-Lavalin Inc and its over 100 affiliates for ten years as Padma bridge graft allegations as well as misconduct under another Bank-financed project were proved.
SNC-Lavalin Inc is a subsidiary of SNC-Lavalin Group, a Canadian company, and represents more than 60 percent of its business.
The debarment is part of a Negotiated Resolution Agreement between the World Bank and SNC-Lavalin Group following a WB-investigation into allegations of bribery schemes involving SNC-Lavalin Inc. and officials in Bangladesh, according to a message received here.
While the investigation was on, the World Banks Integrity Vice Presidency also learned of misconduct by SNC-Lavalin Inc in relation to the World Bank-financed Rural Electrification and Transmission project in Cambodia.
The debarment can be reduced to eight years if the companies comply with all conditions of the agreement. The remainder of the SNC-Lavalin Group has been conditionally non-debarred for the same period of time.
Under this sanction, the remainder of SNC-Lavalin Group faces debarment if they fail to comply with the terms and conditions of the Agreement.
"This case is testimony to collective action against global corruption, said Leonard McCarthy, World Bank Integrity Vice President. Once we had evidence of the companys misconduct, we referred the matter to the Royal Canadian Mounted Police whilst the World Bank finalized its investigation. Going forward, I hope that SNC-Lavalins commitment under this agreement represents meaningful action in deterring the risks of fraud and corruption to development projects.
SNC-Lavalins misconduct involved a conspiracy to pay bribes and misrepresentations when bidding for Bank-financed contracts in violation of the World Banks procurement guidelines.
Under the Agreement, the SNC-Lavalin Group and its affiliates commit to cooperating with the World Banks Integrity Vice Presidency and continuing to improve their internal compliance program. The debarment of SNC-Lavalin Inc. qualifies for cross-debarment by other MDBs under the Agreement of Mutual Recognition of Debarments that was signed on April 9, 2010.
-UNB
. Multinationals don't care a mere PS.
