World Bank Group Announces Debarment of Three Companies in Argentina | WPN World People News

The World Bank on February 1st announced the debarment of three companies – Gavinor, S.R.L., J.C. Segura Construcciones S.A., and a joint-venture, Constructura J.C. Segura Construcciones S. A.-Gavinor S.R.L.-UTE – for 18 months in connection with the companies’ fraudulent practice of knowingly misrepresenting work progress during a contract under the Second Provincial Agricultural Development Project in Argentina. The World Bank-financed project in question, which closed in March 2017, was designed to help the government increase the productivity and profitability of small and medium-size agricultural producers in Argentina, with the goal of contributing to the improvement of agricultural competitiveness.

The debarments make the three companies ineligible to participate in World Bank-financed projects. The terms were set as part of Negotiated Resolution Agreements (NRAs), under which the companies acknowledge responsibility for the underlying sanctionable practice and agree to meet specified corporate compliance conditions as a condition for release from debarment.

The NRA provides for a reduced period of debarment in light of the companies’ cooperation and voluntary remedial actions, among other factors.

The debarments qualify for cross-debarment by other multilateral development banks (MDBs) under the Agreement for Mutual Enforcement of Debarment Decisions that was signed on April 9, 2010.

Source: World Bank