Panafrican News Agency

AfDB debars Ivorian company for 'fraudulent practices'

Abidjan, Cote d'Ivoire (PANA) - The African Development Bank Group (AfDB) on Monday announced a nine-month debarment of Ivoian company, Entreprise de Commerce et de Construction Immobilière for "fraudulent practices".

A statement from AfDB said the sanction took effect from 27 June 2022.

It said an investigation conducted by the Bank’s Office of Integrity and Anti-Corruption established that Entreprise de Commerce et de Construction Immobilière "engaged in fraudulent practices during a tender for the Rehabilitation of the CCIA Building and Tower B of the African Development Bank in Abidjan, Côte d'Ivoire".

It said during the debarment period, the company and its affiliates would be ineligible to participate in AfDB Group-financed projects.

"At the expiry of the debarment period, Entreprise de Commerce et de Construction Immobilière will only be eligible to resume participation in African Development Bank Group-financed projects after it implements an integrity compliance program consistent with the Bank’s guidelines," the statement said.

AfDB's Office of Integrity and Anti-Corruption is responsible for preventing, deterring and investigating allegations of corruption, fraud and other sanctionable practices in Bank Group-financed operations.

-0- PANA MA 26July2022