World Bank debars Canada company for fraud
The World Bank
debarred a Canadian agricultural equipment distribution company Wednesday for 30 months for fraud involving a project in Afghanistan.
MTZ Equipment Ltd. (MTZ)
is ineligible to participate in World Bank-financed projects during the 30-month debarment.
The company
knowingly submitted a bid with a false bid guarantee and didn’t ultimately win the contract, the World Bank said.
The $41 million World Bank funded project was designed to improve Afghanistan’s agricultural productivity by increasing water use efficiency.
The World Bank
has debarred fewer than a dozen Canadian companies.
In 2013 it debarred Montreal-based SNC-Lavalin for ten years.
The debarment also covered about 100 SNC-Lavalin affiliates.
MTZ
was founded in Minsk, Belarus and employs over 30,000 people, according to its website.
The FCPA Blog
https://fcpablog.com/2019/10/30/world-bank-debars-canada-company-for-fraud/