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PRESS RELEASE

World Bank Debars Fedders Lloyd Corporation Limited and its affiliates for 4 Years

April 6, 2016

World Bank Debars Fedders Lloyd Corporation Limited and its affiliates for 4 Years                 

WASHINGTON, April 6, 2016— The World Bank Group announced the debarment of Fedders Lloyd Corporation Limited (FLCL), and its affiliates for a period of four years following the company’s involvement in sanctionable practices while bidding for two World Bank-financed contracts. The sanction also includes all entities directly and indirectly controlled by FLCL and any of its affiliates.

An investigation by the World Bank Integrity Vice Presidency revealed that FLCL misrepresented its prior project experience in addition to submitting false documents and completion certificates while bidding for contracts for two projects in the Africa region.

The sanction is part of a Negotiated Resolution Agreement under which the company will cooperate with the World Bank Integrity Vice Presidency in its efforts to prevent misconduct in World Bank-financed projects. In addition, the debarred entities are required to comply with The World Bank’s Integrity Guidelines prior to their release from the debarment list.

“A company’s past and present experience is validation of the quality and standard of work it can contribute to sustainable development.  Misrepresentation of either is a violation of the World Bank’s integrity rules and those responsible should be held accountable. Otherwise, the goal to end poverty can be seriously compromised.  To that end, we are pleased that Fedders has acknowledged its errors and has agreed to improve in the future in cooperation with the World Bank,” said Leonard Frank McCarthy, World Bank Integrity Vice President.

The debarment of Fedders Lloyd Corporation Limited qualifies for cross-debarment by other MDBs under the Agreement of Mutual Recognition of Debarments that was signed on April 9, 2010.

Media Contacts
Dina Elnaggar
Tel : 202-473-3245
Delnaggar@worldbank.org

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