|The World Bank's "Blacklist" Corrupt Companies|
|Saturday, 04 December 2010 10:51|
Page 1 of 2Washington - The World Bank on Friday said the company has banned a United States business for 12 years for alleged fraud and corruption in development projects.
Anti-poverty lender said, has banned Kwaplah International Trading Company, based in Oregon, and the owner of American-Liberian, Sherlock Mahn, along with the organization that they control directly or indirectly.
They are prohibited from "being involved in corrupt practices and fraud in projects financed by the bank that held in the Democratic Republic of Congo, Tanzania, Ethiopia, Ukraine, Ghana, Gambia and Liberia," the bank said in a statement.
"This is the second longest ban long since the Bank began to punish the company in 1999," he added.
World Bank, based in Washington also announced, for the first time, has been punishing the ban to other corporate corruption by other multilateral development lenders - 12 companies "blacklisted" (listed blacklisted) by the Asian Development Bank (ADB).
Actions taken under the pact with the enforcement of April by
African Development Bank Group, Asian Development Bank, the European
Bank for Reconstruction and Development and the Inter-American Development Bank Group.
Under the agreement, the entity which is prohibited by the multilateral development banks could be penalized for the same error by other development banks.
"This enforcement action sends a very strong signal about how the global anti-corruption landscape more quickly in front. This progress can not be reversed," said Leonard McCarthy, World Bank vice president for integrity, in the statement. (ANTARANews)