Pursuant to Sanctions Board Decision No. 131 issued in Sanctions Case No. 671, the Sanctions Board imposes a sanction of debarment with conditional release after a minimum period of one year and four months on the company CNOOD Asia Limited (the “Respondent”).
This sanction is imposed on the Respondent for a fraudulent practice as defined in Paragraph 1.16(a)(ii) of the World Bank’s Guidelines: Procurement of Goods, Works, and Non-Consulting Services under IBRD Loans and IDA Credits & Grants by World Bank Borrowers (January 2011).
Capsule Summary of Findings:
The Respondent was found liable for a fraudulent practice for falsely stating in bids for Bank-financed contracts that it had not agreed to pay another party in connection with the contracts – when it had in fact engaged a party to perform works in connection with the contracts in return for related payments, including 5% of the net profits. In selecting the appropriate sanction for the Respondent, the Sanctions Board took into account all relevant aggravating and mitigating factors. Full discussion of the facts, allegations, and the Sanctions Board’s analysis can be found in the published decision.