WB debars over a dozen companies for corruption in Bangladeshi projects

WB debars over a dozen companies for corruption in Bangladeshi projects

Washington, Oct 4 (Just News): As part of its anti-corruption drive, the World Bank on Wednesday said that it has debarred more than a dozen companies including several of them from India and Bangladesh after investigations found that they were involved in fraudulent and corrupt practices in various bank projects in Bangladesh.

In all the World Bank debarred 78 firms and individuals during fiscal year 2018, said the inaugural World Bank Group Sanctions System Annual Report for the year 2018. The report is the result of efforts by the Integrity Vice Presidency (INT), the Office of Suspension and Debarment (OSD) and the Sanctions Board.

Each of the sanctions related to a finding that the firm or individual engaged in one of the institution’s five sanctionable practices – fraud, corruption, collusion, coercion or obstruction – while participating in a Bank Group-funded project, the report said.

The institution also recognized 73 cross-debarments from other multilateral development banks.

Among the Indian companies and individuals that have been debarred by the World Bank for their fraudulent and corrupt practices projects in Bangladesh include Olive Health Care, which has been debarred for 10 years and six-month, Jay Modi (seven years and six months), Famy care Ltd (four years), and Macledos Pharmaceuticals Ltd for three months.

Other foreign companies, which were having projects in Bangladesh and have been debarred by the World Bank are Middle South Union Electric Co Ltd from China (four years), Oberthur Technologies SA from France (two years and six month), Eckert & Ziegler BEBIG SA from Belgium (two years), ConvaTec International Services GmbH from Switzerland (one year and six months), ConvaTec Malaysia Sdn Bhd from Malaysia (one year and six months), SMEC International Pty Ltd. From Australia (one year),

Two Bangladeshi companies – SMEC Bangladesh Ltd and ACE Consultants – have been debarred by World Bank for two years and six months each for corrupt practices. Janata Traders from Bangladesh has been debarred for one year for indulging in obstructive practices, while Syed Akhter Hossain has been debarred for 11 years for corrupt practices.

In its report, the Bank did not gave the specific list of the projects except for saying at one point that its own investigation found evidence of inappropriate payments in projects in Bangladesh and Sri Lanka, as well as misrepresentations in projects in India and Sri Lanka.

The international engineering firm that had received about USD448 million in World bank Group contracts, was debarred in September 2017 for 12 months, while four of its affiliates were debarred for periods ranging from six months to two and a half years.

“As we increase our engagement in fragile and conflict-affected states, it is crucial that we strengthen our commitment to ensuring the proper use of our funds,” the World Bank President Jim Yong Kim said in a message to the report.

“This is not just for the success of our projects; it is who we are as an institution. Our Articles of Agreement charge us with using our shareholders’ donations conscientiously and doing our best to ensure that scarce public resources are not lost to corruption,” he said.