Search

Editors

Richard L. Cassin Publisher and Editor

Andy Spalding Senior Editor

Jessica Tillipman Senior Editor

Elizabeth K. Spahn Editor Emeritus

Cody Worthington Contributing Editor

Julie DiMauro Contributing Editor

Thomas Fox Contributing Editor

Marc Alain Bohn Contributing Editor

Bill Waite Contributing Editor

Shruti J. Shah Contributing Editor

Russell A. Stamets Contributing Editor

Richard Bistrong Contributing Editor 

Eric Carlson Contributing Editor

Bill Steinman Contributing Editor

Aarti Maharaj Contributing Editor


FCPA Blog Daily News

« SEC awards foreign whistleblower $4.1 million | Main | Twenty FCPA-related investigations involve companies in London or Houston »
Tuesday
Dec052017

World Bank debars French firm for Africa corruption

The World Bank Group said Tuesday it debarred a Paris-based manufacturer of power transmission line insulators for two years for corrupt practices in connection with a project in Africa.

Sediver SAS was debarred for sanctionable misconduct under the Southern Africa Power Market Project in the Democratic Republic of the Congo (DRC).

It made "improper payments to an employee of a consulting company to influence a tender process," the World Bank said.

The project was designed to improve the infrastructure for generating and transmitting electricity in the DRC.

During the two-year debarment that was part of a Negotiated Resolution Agreement, Sediver SAS isn't allowed to paticipate in World Bank-financed projects.

Sediver SAS’s parent company -- Sediver SpA -- was given conditional non-debarment for 18 months. That means Sediver SpA "remains eligible to participate in World Bank-financed projects as long as it complies with its obligations under the NRA," the World Bank said.

Sediver is owned by a holding company called Seves Group S.à.r.l

As part of the resolution with the World Bank, Seves agreed to pay the DRC "a financial remedy" of €6.8 million ($8 million).

Sediver SAS's debarment qualifies for cross-debarment by other multilateral development banks.

In addition to the World Bank, parties to the 2010 cross-debarment agreement are the Asian Development Bank, the European Bank for Reconstruction and Development, the Inter-American Development Bank, and the African Development Bank.

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

____

Richard L. Cassin is the publisher and editor of the FCPA Blog.