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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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