Related News
World Bank bars 4 Chinese firms for corruption
FOUR Chinese companies have been barred by the World Bank for engaging in corrupt practices on a road project in the Philippines, Chinese media reported today.
China Road and Bridge Corp was barred from bidding on future World Bank contracts for eight years. China State Construction Corp and China Wu Yi Co were each barred for six years and China Geo-Engineering Corp was barred for five years, according to the World Bank's Website.
"We deeply regret being barred by the World Bank," a statement from China State Construction Corp said.
The World Bank also barred three other firms and one individual, all from the Philippines.
The bans can be reduced or terminated if a firm puts in place a compliance program satisfactory to the World Bank.
Philippines-based E. C. de Luna Construction Corp and its owner Eduardo C. de Luna were both barred indefinitely 鈥 the first time the World Bank has taken such action against a person or company since 2004.
The World Bank uncovered evidence of a major cartel involving local and international firms bidding on contracts on the Philippines National Roads Improvement and Management Program. The bank stopped payment of an estimated US$33 million.
The World Bank has barred 351 firms and individuals around the world for their involvement in fraud and corruption in projects it has financed since 1999.
China Road and Bridge Corp was barred from bidding on future World Bank contracts for eight years. China State Construction Corp and China Wu Yi Co were each barred for six years and China Geo-Engineering Corp was barred for five years, according to the World Bank's Website.
"We deeply regret being barred by the World Bank," a statement from China State Construction Corp said.
The World Bank also barred three other firms and one individual, all from the Philippines.
The bans can be reduced or terminated if a firm puts in place a compliance program satisfactory to the World Bank.
Philippines-based E. C. de Luna Construction Corp and its owner Eduardo C. de Luna were both barred indefinitely 鈥 the first time the World Bank has taken such action against a person or company since 2004.
The World Bank uncovered evidence of a major cartel involving local and international firms bidding on contracts on the Philippines National Roads Improvement and Management Program. The bank stopped payment of an estimated US$33 million.
The World Bank has barred 351 firms and individuals around the world for their involvement in fraud and corruption in projects it has financed since 1999.
- About Us
- |
- Terms of Use
- |
-
RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔$粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.