The World Bank has released Zoomlion Ltd from its blacklist of companies found guilty of corrupt practices while executing projects funded by the Bank, and the company can now bid for contracts from the institution and its affiliates.
“Zoomlion has been released as of September 23, 2015.” The Bank confirmed to ghanabusinessnews.com in an email correspondence Thursday October 8, 2015.
The Bank debarred the Ghanaian waste management company, for two years after the company was found of misconduct in implementing a Bank-funded project in Liberia.
The company’s debarment was effective September 24, 2013. Zoomlion Ghana Ltd., and two of its affiliates Accra Compost Plant, and Zoom Alliance were then put on a blacklist, together with over 600 companies worldwide.
The debarment, according to the Bank’s officials meant the company was disqualified for any contract financed by the World Bank Group which also includes the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA).
“Zoomlion paid bribes to facilitate contract execution and processing of invoices of the Emergency Monrovia Urban Sanitation Project in Liberia,” the Bank said in a statement September 25, 2013, adding that Zoomlion acknowledged the misconduct.
World Bank officials told ghanabusinessnews.com that the company went through a Negotiated Resolution Agreement (NRA).
As part of the settlement, the officials indicated that Zoomlion had demonstrated full and satisfactory compliance with the World Bank Integrity standards and therefore, was now eligible for World Bank funded projects after the release.
Source: Ghana Business News
