The parent company, China National Electric Engineering (CNEEC), failed to oversee CEDRI’s misconduct, the World Bank said.
The project was Lusaka Transmission and Distribution Rehabilitation project undertaken to boost the capacity of electricity transmission and distribution in Lusaka
CEDRI cannot participate in World Bank-funded projects for the period, while CNEEC can as long as it complies with its obligations under the settlement agreement.
The sanction is part of a settlement agreement under which CEDRI admits responsibility for the underlying sanctionable practices and agrees to meet corporate compliance conditions.
The length of the sanctions was reduced because the companies cooperated in the investigation.
The companies committed to developing integrity compliance programs.
Agency reports.
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