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PRESS RELEASE February 5, 2020

World Bank Group Announces Settlement with Innovative Consulting & Technical Services, Myanmar Co., Ltd

WASHINGTON, February 5, 2020 — The World Bank today announced a settlement with Innovative Consulting & Technical Services, Myanmar Co., Ltd (ICTS), a Myanmar-based construction and power generation trading company, in connection with fraud as part of the National Electrification Project in Myanmar.

ICTS was sanctioned with conditional non-debarment for 15 months, which means that it remains eligible to participate in World Bank-financed projects as long as it complies with its obligations under the settlement agreement. Otherwise, the conditional non-debarment will convert to a sanction of debarment with conditional release, and the company then will become ineligible to participate in World Bank-financed projects until the conditions for release set out in the settlement agreement are met.

The project was designed to help increase access to electricity in Myanmar, and to provide immediate and effective response in case of an Eligible Crisis or Emergency. According to the facts of the case, ICTS failed to disclose the identity and commission of an agent in its bid, which is a fraudulent practice as the bidding documents required such disclosure.

The settlement agreement provides for conditional non-debarment in light of the company’s admission of responsibility, cooperation, and voluntary remedial actions. As a condition for release from sanction under the terms of the settlement agreement, the company commits to developing an integrity compliance program consistent with the principles set out in the World Bank Group Integrity Compliance Guidelines. The company also commits to continue to fully cooperate with the World Bank Group Integrity Vice Presidency. 



In Washington
Daniel Nikolits
(202) 473-2475