Business Desk :
The World Bank (WB) has announced the debarment of Belgium-based medical device company Eckert & Ziegler BEBIG s.a. for two years in connection with fraudulent and collusive practices under the Health Sector Development Program in Bangladesh.
The World Bank on Wednesday announced the debarment against a total of three companies and a settlement including Eckert & Ziegler BEBIG s.a. with sanctionable practices under projects in Bangladesh, India and Timor-Leste, said a press release.
The release said the debarments make Eckert & Ziegler BEBIG s.a., RKD Construction Pvt. Ltd. (RKD), and Egis International Indonesia ineligible to participate in World Bank Group-financed projects for periods ranging from 15 months to two years.
They are part of three separate settlement agreements, under which the companies acknowledge responsibility for the underlying sanctionable practices and agree to meet specified corporate compliance conditions as a condition for release from debarment.
The settlement agreement reflects the Bank’s findings that Eckert & Ziegler BEBIG s.a. engaged in fraudulent practices by misrepresenting the commission amounts it had agreed to pay to its local agent in relation to bids for two contracts, one of which the company received under the program.
The Bank also found that the company and its local agent engaged in collusive practices by arranging with procurement officials to artificially inflate the prices of the company’s bids in relation to these contracts.
The World Bank (WB) has announced the debarment of Belgium-based medical device company Eckert & Ziegler BEBIG s.a. for two years in connection with fraudulent and collusive practices under the Health Sector Development Program in Bangladesh.
The World Bank on Wednesday announced the debarment against a total of three companies and a settlement including Eckert & Ziegler BEBIG s.a. with sanctionable practices under projects in Bangladesh, India and Timor-Leste, said a press release.
The release said the debarments make Eckert & Ziegler BEBIG s.a., RKD Construction Pvt. Ltd. (RKD), and Egis International Indonesia ineligible to participate in World Bank Group-financed projects for periods ranging from 15 months to two years.
They are part of three separate settlement agreements, under which the companies acknowledge responsibility for the underlying sanctionable practices and agree to meet specified corporate compliance conditions as a condition for release from debarment.
The settlement agreement reflects the Bank’s findings that Eckert & Ziegler BEBIG s.a. engaged in fraudulent practices by misrepresenting the commission amounts it had agreed to pay to its local agent in relation to bids for two contracts, one of which the company received under the program.
The Bank also found that the company and its local agent engaged in collusive practices by arranging with procurement officials to artificially inflate the prices of the company’s bids in relation to these contracts.
