Like the integrity and investigation functions at five other Multilateral Investment Banks (World Bank, EBRD, Inter-American Development Bank, African Development Bank, and Asian Development Bank), the European Investment Bank’s Fraud Investigation team prepares and publishes an annual activity report describing its work to prevent, deter, investigate and remediate fraud and corruption.… Continue Reading
Governments and international financial institutions (IFIs) are stepping up to respond to the public health and economic crisis caused by Covid-19. For its part, the World Bank Group (WBG) has approved billions of dollars in financing to support countries in their efforts against the pandemic.… Continue Reading
International financial institutions, like the World Bank, play an increasingly important role in confronting companies and individuals who revert to unethical and unlawful conduct to gain a competitive advantage in the marketplace.… Continue Reading
The African Development Bank Monday debarred CHINT Electric Co., Ltd. for 36 months for lying about its qualifications and experience in multiple bids for ADB-financed projects.
The ADB’s Office of Integrity and Anti-Corruption said Shanghai-based CHINT is ineligible during the debarment for contracts under any African Development Bank-financed project.… Continue Reading
A China state-owned enterprise was debarred for at least a year by the African Development Bank (AfDB) Tuesday for lying about its past experience.
Chongqing International Construction Corporation (CICO) “engaged in a fraudulent practice” during bids for an AfDB-financed road project in Uganda, according to the AfDB’s Office of Integrity and Anti-Corruption.… Continue Reading