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    Prime Minister of India Shri Narendra Modi and French President HE Emmanuel Macron Inaugurate “Bharat Innovates 2026”, Strengthening Indo-French Deep Tech Alliance

    From your home city to the world: Air India introduces ‘Easy Connect’ flights, leads rollout from Varanasi on 25 June

    EY GDS Launches ey.ai Center for Reimagination in Bengaluru.

    Airbus and SkyFall form strategic alliance to advance European and Ukrainian defence innovation

    GSK enters agreement to acquire Nuvalent, Inc.

    Telenor receives approval to acquire GlobalConnect’s consumer business in Norway.

  • National
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    Highways Transformation: Powering India’s Journey Towards Viksit Bharat

    India’s Space Economy Poised to Reach USD 45 Billion in Next Decade; over 400 Space StartUps driving the next phase of growth: Dr Jitendra Singh .

    From your home city to the world: Air India introduces ‘Easy Connect’ flights, leads rollout from Varanasi on 25 June

    Rahul Dravid Unveils Glittering Maharaja Trophy KSCA T20 for Season 5.

    Union Minister Dr. Jitendra Singh Calls for Stronger Industry-Academia Partnerships to Accelerate Science-Led Growth.

    | Manufacturing and Employment-Oriented Industries Have Received Unprecedented Impetus Under Prime Minister Modi: H.D. Kumaraswamy.

  • Business

    Prime Minister of India Shri Narendra Modi and French President HE Emmanuel Macron Inaugurate “Bharat Innovates 2026”, Strengthening Indo-French Deep Tech Alliance

    EY GDS Launches ey.ai Center for Reimagination in Bengaluru.

    Airbus and SkyFall form strategic alliance to advance European and Ukrainian defence innovation

  • Health

    NYB.AI Featured in NVIDIA GTC Taiwan 2026 Opening Showcase, Marking Milestone in AI-Driven Drug Discovery Collaboration.

    Narayana Health City Performs India’s First Pulsed Field Ablation for Advanced Treatment of Atrial Fibrillation.

    WellSpan Health and Philips Announce Landmark Strategic Alliance, Accelerating Innovation and Research Across Central Pennsylvania and Northern Maryland

    Ramaiah Group and University at Albany Launch RISM, India’s First Greenfield Deemed-to-be University Focused on STEM and Management.

    Samsung Announces World-First Breakthrough in Fainting Prediction With Galaxy Watch.

    Disney and Philips bring together beloved storytelling and innovative technology to support kids undergoing MRI exams

  • Technology
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    • Environment
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    India’s Space Economy Poised to Reach USD 45 Billion in Next Decade; over 400 Space StartUps driving the next phase of growth: Dr Jitendra Singh .

    Union Minister Dr. Jitendra Singh Calls for Stronger Industry-Academia Partnerships to Accelerate Science-Led Growth.

    SAP Labs India Unveils 2026 Startup Studio Cohort Focused on Enterprise AI and Deep-Tech Innovation.

    Cisco Unveils Agentic Platform for Operating and Defending Critical IT Infrastructure.

    IIMC launches AI academy in Media & Entertainment to build future-ready AI capabilities in Indian Media

    IBM and Red Hat Commit $5 Billion to Redefine the Future of Open Source in the AI Era.

  • Auto

    Flex Fuel Vehicles offer India a practical solution to reduce crude oil imports, provide additional income to Indian farmers, and advance low-carbon mobility: Sh. Hardeep Singh Puri

    Audi announces third generation of the Q7.

    MG MAJESTOR 4X2 Automatic Top Trim Launched at INR 40.99 Lakhs(ex-showroom price)

    Honda launches the New Honda City and marks India Debut of its Global Sporty Hybrid SUV All New ZR-V e:HEV.

  • Sports

    Gold for Kumkum Mohod and Dhiraj Bommadevara at World Cup Stage 3.

    Karun Nair Named Coastal Kings Mangaluru Captain Ahead of Maharaja Trophy KSCA T20 Season 5

    Hyderabad to Host Second Season of Archery Premier League This October; World’s Top Archers to Compete.

    Rahul Dravid Unveils Glittering Maharaja Trophy KSCA T20 for Season 5.

  • Entertainment

    Actor Dr. Rajkumar’s 97th birthday celebration on April 24th, at 10.30 am in Dr. Rajkumar Punyabhoomi premises of the Sri Kanteerava Studio .

    Doordarshan Chandana has launched an innovative farmers’ reality show named “Raitaratna” (ರೈತರತ್ನ).

    Phoenix Marketcity brings you a legendary live concert by PADMA BHUSHAN KS CHITRA.

    UNDP Goodwill Ambassador and ‘Game of Thrones’ star Nikolaj Coster-Waldau highlights Odisha’s mangrove restoration story in global documentary series

    House of McDowell’s Soda Yaari Jam, India’s Biggest Branded Live IP, Touches down in Kolkata

    “Virgin Boys” – A Bold Telugu Youth Drama Captures Hearts Across Theatres

  • Lifestyle
    • All
    • Food
    • Travel

    Samsung Announces World-First Breakthrough in Fainting Prediction With Galaxy Watch.

    “Our vision is to make nutrition a standard feature in every kitchen, not a luxury.”-Mr. Jambulingappa Hosmani, MD, Panchamrutha Industries Pvt. Ltd

    Change in timings of ration distribution and fair price shops in Bengaluru.

    Barbeque Nation presents with Kenneth Gopinath.

    HCG Expands Oncology Presence with New Hebbal Hospital.

    Manipal Hospital Whitefield Celebrates a Landmark Achievement in Robotic Surgery.

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  • World

    Prime Minister of India Shri Narendra Modi and French President HE Emmanuel Macron Inaugurate “Bharat Innovates 2026”, Strengthening Indo-French Deep Tech Alliance

    From your home city to the world: Air India introduces ‘Easy Connect’ flights, leads rollout from Varanasi on 25 June

    EY GDS Launches ey.ai Center for Reimagination in Bengaluru.

    Airbus and SkyFall form strategic alliance to advance European and Ukrainian defence innovation

    GSK enters agreement to acquire Nuvalent, Inc.

    Telenor receives approval to acquire GlobalConnect’s consumer business in Norway.

  • National
    • All
    • Economy & Politics
    • Election

    Highways Transformation: Powering India’s Journey Towards Viksit Bharat

    India’s Space Economy Poised to Reach USD 45 Billion in Next Decade; over 400 Space StartUps driving the next phase of growth: Dr Jitendra Singh .

    From your home city to the world: Air India introduces ‘Easy Connect’ flights, leads rollout from Varanasi on 25 June

    Rahul Dravid Unveils Glittering Maharaja Trophy KSCA T20 for Season 5.

    Union Minister Dr. Jitendra Singh Calls for Stronger Industry-Academia Partnerships to Accelerate Science-Led Growth.

    | Manufacturing and Employment-Oriented Industries Have Received Unprecedented Impetus Under Prime Minister Modi: H.D. Kumaraswamy.

  • Business

    Prime Minister of India Shri Narendra Modi and French President HE Emmanuel Macron Inaugurate “Bharat Innovates 2026”, Strengthening Indo-French Deep Tech Alliance

    EY GDS Launches ey.ai Center for Reimagination in Bengaluru.

    Airbus and SkyFall form strategic alliance to advance European and Ukrainian defence innovation

  • Health

    NYB.AI Featured in NVIDIA GTC Taiwan 2026 Opening Showcase, Marking Milestone in AI-Driven Drug Discovery Collaboration.

    Narayana Health City Performs India’s First Pulsed Field Ablation for Advanced Treatment of Atrial Fibrillation.

    WellSpan Health and Philips Announce Landmark Strategic Alliance, Accelerating Innovation and Research Across Central Pennsylvania and Northern Maryland

    Ramaiah Group and University at Albany Launch RISM, India’s First Greenfield Deemed-to-be University Focused on STEM and Management.

    Samsung Announces World-First Breakthrough in Fainting Prediction With Galaxy Watch.

    Disney and Philips bring together beloved storytelling and innovative technology to support kids undergoing MRI exams

  • Technology
    • All
    • Environment
    • Science

    India’s Space Economy Poised to Reach USD 45 Billion in Next Decade; over 400 Space StartUps driving the next phase of growth: Dr Jitendra Singh .

    Union Minister Dr. Jitendra Singh Calls for Stronger Industry-Academia Partnerships to Accelerate Science-Led Growth.

    SAP Labs India Unveils 2026 Startup Studio Cohort Focused on Enterprise AI and Deep-Tech Innovation.

    Cisco Unveils Agentic Platform for Operating and Defending Critical IT Infrastructure.

    IIMC launches AI academy in Media & Entertainment to build future-ready AI capabilities in Indian Media

    IBM and Red Hat Commit $5 Billion to Redefine the Future of Open Source in the AI Era.

  • Auto

    Flex Fuel Vehicles offer India a practical solution to reduce crude oil imports, provide additional income to Indian farmers, and advance low-carbon mobility: Sh. Hardeep Singh Puri

    Audi announces third generation of the Q7.

    MG MAJESTOR 4X2 Automatic Top Trim Launched at INR 40.99 Lakhs(ex-showroom price)

    Honda launches the New Honda City and marks India Debut of its Global Sporty Hybrid SUV All New ZR-V e:HEV.

  • Sports

    Gold for Kumkum Mohod and Dhiraj Bommadevara at World Cup Stage 3.

    Karun Nair Named Coastal Kings Mangaluru Captain Ahead of Maharaja Trophy KSCA T20 Season 5

    Hyderabad to Host Second Season of Archery Premier League This October; World’s Top Archers to Compete.

    Rahul Dravid Unveils Glittering Maharaja Trophy KSCA T20 for Season 5.

  • Entertainment

    Actor Dr. Rajkumar’s 97th birthday celebration on April 24th, at 10.30 am in Dr. Rajkumar Punyabhoomi premises of the Sri Kanteerava Studio .

    Doordarshan Chandana has launched an innovative farmers’ reality show named “Raitaratna” (ರೈತರತ್ನ).

    Phoenix Marketcity brings you a legendary live concert by PADMA BHUSHAN KS CHITRA.

    UNDP Goodwill Ambassador and ‘Game of Thrones’ star Nikolaj Coster-Waldau highlights Odisha’s mangrove restoration story in global documentary series

    House of McDowell’s Soda Yaari Jam, India’s Biggest Branded Live IP, Touches down in Kolkata

    “Virgin Boys” – A Bold Telugu Youth Drama Captures Hearts Across Theatres

  • Lifestyle
    • All
    • Food
    • Travel

    Samsung Announces World-First Breakthrough in Fainting Prediction With Galaxy Watch.

    “Our vision is to make nutrition a standard feature in every kitchen, not a luxury.”-Mr. Jambulingappa Hosmani, MD, Panchamrutha Industries Pvt. Ltd

    Change in timings of ration distribution and fair price shops in Bengaluru.

    Barbeque Nation presents with Kenneth Gopinath.

    HCG Expands Oncology Presence with New Hebbal Hospital.

    Manipal Hospital Whitefield Celebrates a Landmark Achievement in Robotic Surgery.

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World Bank Group Sanctions System Maintains its Anticorruption Mission, Despite Unprecedented Challenges in Fiscal Year 2020

by FWM
October 9, 2020
in Business
0

WASHINGTON, October 9, 2020 — The World Bank Group today reasserted its commitment to fighting corruption and safeguarding development resources, illustrating in its Sanctions System Annual Report how the institution maintained continuity in its mission to investigate and adjudicate allegations of fraud and corruption in World Bank Group-financed activities, despite unprecedented challenges.

The report, which is prepared jointly by the Integrity Vice Presidency (INT), the Office of Suspension and Debarment (OSD), and the Sanctions Board, is an overview of the World Bank Group’s Sanctions System and the activities of its component units over the past year.

In the face of historic global impacts of COVID-19, the World Bank Group has taken broad, fast action to ensure countries have the resources they need to face these challenges. In this context, the Sanction System’s mission to help ensure that these critical development resources are used for their intended purposes and to robustly confront allegations of fraud and corruption has taken on heightened importance.

Despite challenges imposed by COVID-19–related restrictions, by adopting and adapting to almost entirely electronic processes the Sanctions System continued with minimal interruption to carefully assess all received allegations, actively pursue investigations, and review and adjudicate cases for potential sanctions. Teams within the Sanctions System also provided additional preventative support to the World Bank Group to ensure that integrity issues were given prominence in the design and implementation of operations.

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During fiscal year 2020, the World Bank Group sanctioned 49 firms and individuals. Pursuant to the sanctions issued, 46 firms and individuals were debarred, making them ineligible to participate in projects and operations financed by institutions of the World Bank Group. In addition, three firms were sanctioned with conditional non-debarment, which means they remain eligible to participate in World Bank Group-financed operations but will be debarred if they do not meet certain agreed-upon conditions.

The institution also recognized 72 cross-debarments from other multilateral development banks (MDBs), while 38 World Bank Group debarments were eligible for recognition by other MDBs. A full list of the firms and individuals currently debarred by the World Bank Group can be found here: www.worldbank.org/debarr.

Fiscal Year 2020 Summary

Over the course of fiscal year 2020, INT initiated 46 new investigations into allegations of misconduct in World Bank Group-funded projects. INT also submitted 26 sanctions cases and 22 settlements to OSD as the first tier of the institution’s two-tiered administrative sanctions system. OSD temporarily suspended 30 firms and eight individuals and issued sanctions against 19 entities that did not appeal their cases.

The Sanctions Board, the second tier of the system, issued sanctions against 7 firms and individuals that had appealed their cases. These sanctions were set out in fully-reasoned, published decisions that offer guidance to the international community involved in anticorruption and sanctions.

All firms or individuals under investigation are given the option of resolving a matter through a settlement agreement, which can deliver more certain and tailored results for all parties. The World Bank Group sanctioned 23 parties in connection with 22 settlement agreements. Each of these settlement agreements was cleared by the World Bank Group General Counsel and reviewed by OSD.

Each of the sanctions related to a finding that the firm or individual engaged in at least one of the institution’s five sanctionable practices – fraud, corruption, collusion, coercion, or obstruction – in connection with a World Bank Group-funded project.

In addition to investigating allegations of fraud and corruption, INT works to prevent corruption in ongoing World Bank Group projects. INT staff identified and worked to mitigate integrity risks in 118 projects, and identified additional integrity concerns in 32 projects. The team also provided advisory services in 53 countries and across 14 sectors.

Finally, the Integrity Compliance Office (ICO), which works with sanctioned firms and individuals to institute reforms in alignment with the World Bank Group’s Integrity Compliance Guidelines and to seek to reduce the possibilities for future misconduct, engaged with a record 107 parties. This year, the ICO determined that 18 firms and individuals had met the conditions required to be released from sanction and are now all eligible to again participate in World Bank Group-funded projects.

Tags: World Bank Group’s Integrity Compliance Guidelines

FWM

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