The World Bank Group debarred Minh Anh Construction Joint Stock Company for misrepresenting facts during a project bid in Vietnam.
Under a Negotiated Resolution Agreement announced last week, the company won’t be eligible for any World Bank-financed contracts for fourteen months.
An investigation by the World Bank Integrity Vice Presidency revealed that the company misrepresented facts while bidding for a contract under the Northern Delta Transport Development Project Phase I in Vietnam.
“The outcome of this investigation is evidence that acknowledgement of misconduct and cooperation during an investigation can reverse some of the economic and reputational damage incurred by sanctionable practices and their impact on development projects,” according to Leonard McCarthy, World Bank Integrity Vice President.
Minh Anh is also required to adopt bid preparation policies and procedures, and cooperate with the World Bank Integrity Vice Presidency.
The action against the company qualifies for cross-debarment by other Multilateral Development Banks under the Agreement of Mutual Recognition of Debarments (pdf) signed in 2010.
In addition to the World Bank, parties to the cross-debarment agreement are the Asian Development Bank, the European Bank for Reconstruction and Development, the Inter-American Development Bank, and the African Development Bank.
A list of all World Bank debarred entities and individuals is here.
Richard L. Cassin is the publisher and editor of the FCPA Blog. He’ll be the keynote speaker at the FCPA Blog NYC Conference 2016.