September 18, 2019

World Bank debars Spanish engineering company

On September 12, 2019, the World Bank announced that Ingeniería Especializada Obra Civil e Industrial S.A.U. (IEOCI), a Spanish engineering company, had been debarred from participating in World Bank-financed projects for 28 months.  According to the World Bank, IEOCI’s predecessor company, Acciona Ingeniería S.A., engaged in corrupt, collusive, and fraudulent conduct in order to secure a contract for a project supervising a World Bank-financed roads and airports infrastructure project in Bolivia.

IEOCI received a reduced period of debarment as a result of its extensive cooperation and voluntary remedial action, which included conducting an internal investigation, declining to bid on new World Bank projects, and taking appropriate personnel action, and has committed to developing a compliance program consistent with World Bank compliance guidelines as a condition for release from debarment.

World Bank press release