The World Bank debarred an Indian waste management and environmental services company Wednesday for one year and eight months for a fraudulent practice connected to a project in India. Ramky Enviro Engineers Limited (REEL), and its managing director, M. Goutham Reddy, are ineligible to participa .
GAC Vindicates Suspended LWSC Managing Director frontpageafricaonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from frontpageafricaonline.com Daily Mail and Mail on Sunday newspapers.
7:48 am
The World Bank debarred 267 firms and individuals last year, including cross debarments, in a big jump from prior years.
For comparison, in 2019, the Washington, D.C.-headquartered international financial institution debarred 183 firms and individuals.
In 2018, it debarred 155 firms and individuals.
So far in 2021, the World Bank has debarred twelve entities or individuals. Eleven were cross-debarments (debarments first imposed by another international financial institution), and one was a four-year debarment of Vietnam-based VN1 Industrial Group for “corrupt practices.”
Beginning January 1, 2021, the World Bank changed its publication practices and in all cases will now state the sanctionable practice for why the firm or individual has been debarred.