Topic: Multilateral development banks

World Bank debars third company in Colombian contract fraud

The World Bank’s sanctions board debarred a Greek company after a contentious battle between the business and the Integrity Vice Presidency.

17 December 2020

Recent AfDB cases send mixed signals to companies

The African Development Bank is sending mixed messages with the debarments it hands out to companies, say Hogan Lovells’ Peter Spivack, Malak Hamwi and Salomé Lemasson.

17 December 2020

World Bank appoints new investigations director

The World Bank’s Integrity Vice Presidency has hired a new investigations director more than three years after the previous one left.

24 November 2020

Trial date set for EBRD lawyer

A European Bank for Reconstruction and Development lawyer and an ex-special counsel at Cooley will stand trial in 2021 over an alleged embezzlement scheme involving the Commonwealth Secretariat.

19 November 2020

EBRD lawyer denies wrongdoing in fraud case

Melissa Khemani, a lawyer in the European Bank for Reconstruction and Development’s compliance department, has pleaded not guilty to agreeing to handle potentially illicit funds.

22 October 2020

MDB anti-corruption teams eye shift towards prevention work

A senior anti-corruption official at a multilateral development bank anticipates a shift away from investigations towards prevention work.

20 October 2020

World Bank implements “major” compliance initiative

The World Bank’s anti-corruption unit is changing the process it uses for evaluating corporate compliance programmes when determining if companies qualify for reduced penalties. “That’s a major initiative of ours right now,” said a Bank official.

02 October 2020

MDBs are boosting their enforcement relationships, lawyers say

Growing relationships between multilateral development banks and law enforcement agencies are “one of the biggest concerns” for companies dealing with MDB investigations, one lawyer said.

09 September 2020

Why multilateral development banks may favour a DPA-style approach

Rahman Ravelli’s Aziz Rahman and Joshua Ray argue why multilateral development banks will increasingly use conditional non-debarment settlements with companies to address wrongdoing.

25 August 2020

Don’t underestimate us, says AfDB anti-corruption chief

“They think that because it's the African Development Bank they can simply wave us away. And that just is not the case at all,” the organisation’s anti-corruption chief, Alan Bacarese, tells GIR in an interview.

21 August 2020

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