The World Bank debarred a non-profit advisory and consulting company Wednesday for a year and a half for a fraudulent practice connected to a project in Georgia.
Tbilisi-based Centre for Training and Consultancy (CTC) is ineligible to participate in projects and operations financed by the World Bank Group during the 18-month debarment.
According to the World Bank, CTC “recklessly omitted” to disclose a conflict-of-interest relationship when submitting a proposal for a contract under the project, which is a fraudulent practice.
The $59 million World Bank-funded project was designed to improve the efficiency and reliability of targeted municipal services and infrastructure in Georgia.
As part of the settlement, CTC did not contest responsibility for the underlying sanctionable practices and agreed to meet specified corporate compliance conditions as a condition for release from debarment, the World Bank said.
According to the World Bank, the settlement agreement provides a reduced period of debarment for the company’s cooperation and acknowledgment of the misconduct.
CTC also agreed to implement bid policies and procedures that reflect the relevant principles set out in the World Bank Group Integrity Compliance Guidelines, institute a corporate ethics training program, and continue to fully cooperate with the World Bank Group Integrity Vice Presidency.
The debarment qualifies for cross-debarment by 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.