The World Bank Group recently announced the debarment of Netherlands-based software company GenKey Solutions B.V. for a period of 18 months for engaging in a “fraudulent practice” in connection with the Social Safety Nets Project in the Republic of Liberia. This program is aimed at providing income support to Liberian families that suffer from extreme economic hardship and food insecurity.
The World Bank reported that GenKey acted recklessly by failing to “disclose commissions paid or to be paid to an agent in connection with a contract under the project.” According to the World Bank, this failure was due to GenKey’s inadequate internal controls and lack of supervision. This conduct constituted a “fraudulent practice” under the World Bank’s Guidelines: Selection and Employment of Consultants under IBRD Loans and IDA Credits & Grants by World Bank Borrowers.
According to the terms of the settlement agreement, GenKey will be ineligible to participate in World Bank-financed operations and projects throughout the debarment period, as well as projects from other multilateral development banks. The settlement provided GenKey with a reduced period of debarment based upon the company’s acknowledgment of responsibility, cooperation with the investigation, and the company’s existing compliance program. As a condition of release from debarment, GenKey committed to developing and implementing further integrity compliance measures that are in accordance with the World Bank’s Integrity Compliance Guidelines.