World Bank Debars Odebrecht Subsidiary for Alleged Fraud

摘要

The World Bank has barred a subsidiary of Brazilian construction giant Odebrecht S.A. for three years from bank-financed projects, citing alleged fraud on a project in Colombia. In a settlement that the bank announced Jan. 29, it debarred the Construtora Norberto Odebrecht S.A. unit, alleging it took part in "fraudulent and collusive practices" related to the $487-million Rio Bogota wastewater treatment and flood control project. In the settlement, Odebrecht "acknowledges responsibility for the underlying sanctionable practices and agrees to meet specified corporate compliance conditions" if the ban is to end, the bank said.