WASHINGTON, August 19, 2015— The World Bank Group announced the debarment of Shandong Taikai Power Engineering Company Limited for a period of 18 months following the company’s involvement in fraudulent practices relating to the World Bank-financed Electricity Sector Development Project in Uganda and Second Transmission and Distribution Project in Vietnam.
An investigation by the World Bank Integrity Vice Presidency found that Shandong Taikai Power Engineering Company Limited misrepresented its prior project experience by submitting falsified contracts and completion certificates, along with a forged business license while bidding for contracts.
The sanction is part of a Negotiated Resolution Agreement under which the company will cooperate with the World Bank Integrity Vice Presidency in its efforts to investigate parties who have allegedly engaged in misconduct in World Bank-financed projects.
“This case is a clear example of the range of risks across regions and what can be done to address them.”
“Company engagement and acknowledgment of misconduct are critical to advancing the integrity of development projects,” said Leonard Frank McCarthy, World Bank Integrity Vice President.
The debarment of Shandong Taikai Power Engineering Company Limited qualifies for cross-debarment by other MDBs under the Agreement of Mutual Recognition of Debarments that was signed on April 9, 2010.
Thank you, TiA.