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Article: World Bank sanctions Lahmeyer International for corrupt activities in bank-financed projects.
- Article from:
- M2 Presswire
- Article date:
- November 6, 2006
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M2 PRESSWIRE-6 November 2006-WORLD BANK: World Bank sanctions Lahmeyer International for corrupt activities in bank-financed projects(C)1994-2006 M2 COMMUNICATIONS LTD
RDATE:06112006
PRETORIA, South Africa - The World Bank has declared Lahmeyer International GmbH (Lahmeyer), a German company, ineligible to be awarded Bank-financed contracts for a period of seven years, because of corrupt activities in connection with the Lesotho Highlands Water Project (LHWP).
The period of ineligibility may be reduced by four years if the Bank determines that Lahmeyer has met specific compliance conditions and fully cooperated with the Bank in disclosing past ...