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Wednesday
Oct122016

World Bank debars AC Boilers SpA after Egypt bids

The World Bank Group Tuesday debarred AC Boilers SpA and two affiliates for nine months for violating integrity guidelines during bids in Egypt.

An investigation by the World Bank Integrity Vice Presidency revealed that AC Boilers "recklessly failed to disclose" the identities and payment amounts of two local agents when bidding for a World Bank-financed contract under Egypt's El Tebbin Power Project.

After the initial nine-month debarment, AC Boilers and its two affilaites -- AC Boilers Egypt S.A.E. and Centro Combustione Ambiente -- will also serve 15 months of conditional non-debarment.

Under conditional non-debarment, a company can work on World Bank projects if it meets certain compliance conditions. Failure to meet the conditions results in automatic debarment.

All debarred companies have to show compliance with the World Bank’s Integrity Guidelines (pdf) before their release from the debarment list.

AC Boilers is headquartered in Gallarate, Italy. It's the biggest Italian original-technology boiler manufacturer for steam generator technologies.

The company was formerly called Ansaldo Caldaie. It's been part of Italy's Sofinter Group since 2001.

“Maintaining the integrity of development projects is a shared responsibility. The World Bank is committed to managing fraud and corruption risks in projects we finance to ensure its success and that funds serve their intended beneficiaries,” World Bank Integrity Vice President Leonard McCarthy said.

Tuesday's debarment was part of a Negotiated Resolution Agreement under which AC Boilers will cooperate with the World Bank Integrity Vice Presidency.

A list of all World Bank-debarred entities and individuals is here.

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Richard L. Cassin is the publisher and editor of the FCPA Blog. He'll be the keynote speaker at the FCPA Blog NYC Conference 2016