World Bank debars Vietnamese contractor for fraud
By Helen Wright09 October 2013
The World Bank has banned Vietnamese contractor Thang Long Infrastructure Development and its affiliates from winning contracts it finances for 2.5 years.
The debarment is part of a resolution agreement following the company’s acknowledgment of fraudulent practices, according to the World Bank.
It said Thang Long submitted misrepresented documents as part of the bidding process for three projects in Vietnam – the Mekong Delta region urban upgrading project, the second northern mountains poverty reduction project, and the Da Nang sustainable city development project.
World Bank said the sanction acknowledged the company’s co-operation. The 2.5 year ban qualifies for cross-debarment by other development banks under a 2010 agreement.