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Article: World Bank sanctions Acres International Limited.
- Article from:
- M2 Presswire
- Article date:
- July 23, 2004
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M2 PRESSWIRE-23 July 2004-WORLD BANK: World Bank sanctions Acres International Limited(C)1994-2004 M2 COMMUNICATIONS LTD
RDATE:07232004
WASHINGTON -- The World Bank has sanctioned Acres International Limited (Acres), a Canadian company, as a result of corrupt activities related to its Bank financed contract associated with the Lesotho Highlands Water Project (LHWP). Acres was declared ineligible to receive any new Bank financed contracts for a period of three years. This action is part of the Bank's broad anticorruption efforts initiated by President James Wolfensohn in 1996. More information on the World Bank's overall anticorruption policies and ...
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... ... long overdue. The World Bank, the largest public ... punishable activities, the World Bank's Sanctions Committee ... excluded the Canadian firm Acres International from Bank projects ... this decision, the World Bank's sluggish response ...
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