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World Bank Debars Six Companies with Address in Vietnam for One Year In Relation to Misconduct in an Environmental Project in Vietnam

ByadminDC

Apr 11, 2016

SOURCE: worldbank.org


PRESS RELEASE
World Bank Debars Six Companies for One Year In Relation to Misconduct in an Environmental Project in East Asia
April 5, 2016


The debarments are part of Negotiated Resolution Agreements following the acknowledgment of fraudulent practices relating to an environmental project in Vietnam

WASHINGTON, April 5, 2016—The World Bank Group today announced the debarments of 6M Insulation Panel Co., Ltd.; Huu Nghi Engineering Corporation; TST Co., Ltd.; Sai Gon Insulation Co., Ltd.; Sea Refrigeration Electrical Engineering Company; and Asia Refrigeration Industry Co., Ltd., each for one year.

An investigation by the World Bank Integrity Vice Presidency revealed that the companies submitted fraudulent documents, to qualify for grants to phase out ozone-depleting substances, under the Vietnam HCFC Phase-Out Project, Stage I. The investigation was conducted in cooperation with the project team and the companies.

“This is an important case that demonstrates that achieving the project’s environmental objectives with an eye on integrity is critical to sustainability of the World Bank efforts to end poverty,” said Leonard McCarthy, World Bank Integrity Vice President.

Under the Negotiated Resolution Agreements (NRAs) with the World Bank, the companies will not be eligible for any World Bank-financed contracts for one year.


http://www.worldbank.org/en/news/press-release/2016/04/05/world-bank-debars-six-companies-misconduct-environmental-project-east-asia

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