The World Bank's Anti-corruption Department has barred seven companies, including four from China and three from the Philippines, from WB-sponsored projects on suspicion of conspiring to collude on tenders for road projects in the Philippines.<\/p>\n
WB stated in an announcement that it would stop the provision of USD33 million to the companies because the project team suspects a possible collusion during the bidding.<\/p>\n
As part of the penalties, WB forbids China Road and Bridge Corporation to bid on future WB contracts for eight years. China State Construction Corporation and China Wu Yi Company were each barred for six years, and the China Geo-Engineering Corporation was barred for five years.<\/p>\n
A spokesperson for the China State Construction Engineering Corporation said that the company had explained its actions to the World Bank, but regretted the bank's lack of understanding. The spokesperson said that CSCEC has asked all its overseas branches and their employees to strictly abide by the company's rules and regulations as well as the laws and regulations of the countries which they serve.<\/p>\n","protected":false},"excerpt":{"rendered":"
The World Bank's Anti-corruption Department has barred seven companies, including four from China and three from the Philippines, from WB-sponsored projects on suspicion of conspiring to collude on tenders for road projects in the Philippines.<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[13],"tags":[3940,3945,3942,3943,3947,3944,3946,3941,3948,780,1079],"class_list":["post-4250","post","type-post","status-publish","format-standard","hentry","category-law-order","tag-bribe","tag-china-geo-engineering-corporation","tag-china-road-and-bridge-corporation","tag-china-state-construction-corporation","tag-china-state-construction-engineering-corporation","tag-china-wu-yi-company","tag-collusion","tag-corruption","tag-cscec","tag-philippines","tag-world-bank"],"acf":[],"yoast_head":"\n