The World Bank Group today announced a 12-month conditional unregulation of France-based Bouygues Bâtiment International. This is a company specializing in complex construction projects around the world, Airport Madagascar Project.
The sanctions have their roots in an investigation conducted by the World Bank Group. Vice President of Honesty It also emphasizes the efforts of financial institutions to promote high integrity standards in projects funded by the International Finance Corporation (IFC). This issue was resolved through a settlement agreement negotiated with multiple companies involved. The settlement shows how such agreements, and general banking group sanctions, can be used to promote better business practices by companies engaged in private sector development projects.
Conditional non-ban sanctions mean that Bouygues Bâtiment International and its sanctioned affiliate, Entreprise Internationale de Construction (EIC), are eligible to continue to participate in projects and operations funded by World Bank Group institutions. To do. Settlement agreement. If the World Bank Group’s Integrity Compliance Officer determines that these obligations will not be fulfilled within 12 months, the conditional non-ban will turn into a ban sanction with a conditional release, and the company and its affiliates. Will be disqualified. In activities funded by the World Bank Group until the conditions of liberation set out in the Settlement Agreement are met.
With the support of IFC, the project will partially fund the design and development of expansion and refurbishment work at Madagascar’s two major airports, Ivato International Airport and Facine Airport. According to the facts of the case, Bouygues Bâtiment International was improper with government officials during a bid for a 28-year contract to operate a concession between February 4, 2015 and May 4, 2015. Engaged in collaborative work by attending various meetings. airport.
The settlement agreement provides for a reduction in sanctions in the light of the company’s cooperation. As a condition of release from sanctions under the terms of the settlement agreement, Bouygues Bâtiment International has established a group-wide corporate integrity compliance program. World Bank Group Integrity Compliance Guidelines.. The company has agreed to implement and maintain this program as part of future business operations, including EIC.
Bouygues Bâtiment International has also promised to continue to work fully with the World Bank Group’s Vice President of Conscientiousness.
Distributed by the APO Group on behalf of the World Bank Group.
World Bank Group Bouygues B? Sanctions timent International
Source link World Bank Group Bouygues B? Sanctions timent International