The company’s debarment is effective September 24, 2013, officials say, meaning it will not qualify for any contract financed by the World Bank Group which also includes the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA).
In a statement September 25, 2013, the World Bank said “Zoomlion paid bribes to facilitate contract execution and processing of invoices of the Emergency Monrovia Urban Sanitation Project in Liberia.”
Zoomlion has subsequently acknowledged the misconduct, added the World Bank.
The Bank said the debarment is part of a Negotiated Resolution Agreement (NRA) which acknowledges the company’s cooperation and disciplinary measures against staff involved in the misconduct.
As part of the settlement, the World Bank indicated that Zoomlion need to demonstrate full and satisfactory compliance with the World Bank Integrity standards.
Commenting on the issue, the World Bank Integrity Vice President, Leonard McCarthy, said “This is a case where a company under a World Bank investigation is demonstrating responsibility for wrongdoing by enforcing disciplinary action and committing to a new standard of integrity governing its operations.”
By Ekow Quandzie