The World Bank debarred a Slovenia-based infrastructure services firm Wednesday for making corrupt payments in connection with a project in the Democratic Republic of the Congo.
Flycom d.o.o. was debarred for 18 months after it engaged in “corrupt practices under the Southern Africa Power Market Project,” the World Bank said.
The debarment makes Flycom and its affiliates ineligible to participate in World Bank-financed projects. Among other things, the firm helps utilities monitor the performance of power delivery equipment.
The now-closed $252 million Southern Africa project was designed to improve the infrastructure for generating and transmitting electricity in the DRC. The World Bank provided about $180 million in financing for the project.
“Flycom engaged in corrupt practices by making improper payments between 2010 and 2014 to a consultant engineer in relation to contracts” Flycom received under the project, the World Bank said.
Under a settlement with the World Bank, the company accepted responsibility for its conduct and agreed to take remedial measures.
The World Bank said it reduced the debarment period because of Flycom’s cooperation.
The 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.
The FCPA Blog | August 22, 2018