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 Press release - World Bank Debars Five Firms: Two Indefinitely, Three For Five Years (WB)

 Press release date: 27.10.1999

  FOR IMMEDIATE RELEASE 
The World Bank
News Release No. 2000/081/S

Contact: Merrell Tuck, tel. 202 473-9516

WORLD BANK DEBARS FIVE FIRMS: TWO INDEFINITELY, THREE FOR FIVE YEARS

Cases involve improper consultancy payments, misuse of Trust Funds

WASHINGTON, October 28, 1999The World Bank today debarred five consulting firms. Two firms, All Nippon Engineering Corporation (Japan) and Penmacs (Japan), were declared permanently ineligible to be awarded Bank-financed contracts. Three more firms, Nikko Research Center Ltd. (Japan), Nikko Research Center (America) (U.S.A.), and International Access Corporation (U.S.A.), were debarred for five years. Nikko Research Center (America), a wholly owned subsidiary of Nikko Research Center Ltd., was liquidated earlier this year.

In ordering the debarments, World Bank President James D. Wolfensohn acted on the recommendation of the Banks Sanctions Committee, which found that the five firms had engaged in corrupt practices as defined by the Banks Consultants Guidelines.

All five companies disputed the charges, which were linked to the termination of two World Bank staff members in September 1998 for the misuse of trust funds. In all five cases, the debarment pertains to Bank-financed procurement and consultancy contracts.

The debarment of each company applies as well to any firm which owns the majority of the capital of that company and to any firm of which the company owns a majority of the capital. Since the Sanctions Committee was established in November 1998, the Bank has declared 12 firms, including the five announced today, ineligible to be awarded Bank-financed contracts. Two individuals have also been debarred.



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