World Bank debars Chinese fiber optic cable company
Wednesday, May 22, 2019 at 11:48AM
Harry Cassin in World Bank, debarment

The World Bank debarred a Chinese fiber optic cable manufacturer and distributor Wednesday for 20 months for "fraudulent practices" involving a project in Zambia.

Nantong-based Jiangsu Zhongtian Technology Co., Ltd. (ZTT) is ineligible to participate in World Bank-financed projects during the 20-month debarment.

The $210 million Lusaka Transmission and Distribution Rehabilitation Project in Zambia was designed to improve the electricity transmission and distribution in the area. 

ZTT misrepresented its past contract experience by submitting falsified documents in its bid for the contract, which is a fraudulent practice, the World Bank said

ZTT is listed on the Shanghai Stock Exchange. According to the company's website, it employs over 15,000 people and ships products to 147 countries.

As a condition of the settlement, ZTT committed to developing an integrity compliance program consistent with the principles set out in the World Bank Group Integrity Compliance Guidelines and to continue fully cooperating with the World Bank Group Integrity Vice Presidency.

Wednesday's debarment qualifies for cross-debarment by 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.

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Harry Cassin is the publisher and editor of the FCPA Blog.

Article originally appeared on The FCPA Blog (http://www.fcpablog.com/).
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