Pursuant to Sanctions Board Decision No. 98 issued in Sanctions Case No. 392, the Sanctions Board imposes a sanction of debarment on Joca Ingeniería y Construcciones, S.A. (the "Respondent") with the possibility of conditional release after a minimum period of ineligibility of three (3) years.
This sanction is imposed on the Respondent for fraudulent practices as defined in Paragraph 1.14(a)(ii) of the World Bank's Guidelines for Procurement under IBRD Loans and IDA Credits (May 2004, revised October 1, 2006).
Capsule Summary of Findings:
The Respondent in this case, a multi-national enterprise in the industrial construction sector, was found liable for submitting false Performance and Advance Payment Securities when it qualified for a Bank-financed contract to build a road segment in Ukraine. In selecting the appropriate sanction for the Respondent, the Sanctions Board took into account the severity of the Respondent's misconduct, the magnitude of direct financial harm to the Borrower, the Respondent's extent of cooperation with the Bank during the investigation, the changes in the Respondent's corporate identity, and the period of temporary suspension served by the Respondent during the course of these sanctions proceedings. Full discussion of the facts, allegations, and the Sanctions Board's analysis can be found in the published decision.