World Bank bars 6 companies from its contracts for 1 year over fraudulent practices
Author: World Bank Group, Published on: 6 April 2016
"World Bank Debars Six Companies for One Year In Relation to Misconduct in an Environmental Project in East Asia"
The World Bank Group today announced the debarments of 6M Insulation Panel Co., Ltd.; Huu Nghi Engineering Corporation; TST Co., Ltd.; Sai Gon Insulation Co., Ltd.; Sea Refrigeration Electrical Engineering Company; and Asia Refrigeration Industry Co., Ltd., each for one year.
An investigation by the World Bank Integrity Vice Presidency revealed that the companies submitted fraudulent documents, to qualify for grants to phase out ozone-depleting substances, under the Vietnam HCFC Phase-Out Project, Stage I.