World Bank announces two debarments for ‘fraudulent practices’
The World Bank Group
debarred a Colombia construction company for 18 months Wednesday for misconduct related to a bank-financed flood-control project in Bogota.
CASS Constructores S.A.S., a firm that provides civil works construction services,
“knowingly misrepresented the composition and the roles within a consortium of three companies that ultimately won a World Bank-financed contract,”
according to the bank’s release.
As part of a settlement,
the company acknowledged “responsibility for the underlying sanctionable practices under World Bank procurement regulations.”
It also agreed to meet enhanced corporate compliance guidelines as a condition of World Bank announces two debarments for ‘fraudulent practices’ release from debarment.
The project
was the Río Bogotá Environmental Recuperation and Flood Control Project.
During the debarment, CASS Constructores S.A.S. is ineligible to participate in projects and operations financed by any unit of the World Bank
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