World Bank Debars Alstom SA & Affiliates for Bribing Gov't Officials
On February 22, 2012, the World Bank announced the debarment of Alstom Hydro France and Alstom Network Schweiz AG (Switzerland) in addition to their affiliates, for a period of three years following Alstom's acknowledgment of misconduct in relation to the…
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World Bank-financed Zambia Power Rehabilitation Project. In 2002, Alstom made an improper payment of €110,000 (about $147,510) to an entity controlled by a former senior government official for consultancy services in relation to the hydropower project. During the debarment period of Alstom Hydro France and Alstom Network Schweiz AG, Alstom SA and its other affiliates are conditionally non-debarred. Under the Settlement Agreement, the companies commit to cooperating with the World Bank’s Integrity Vice Presidency and continuing to improve their internal compliance program. The debarment qualifies for cross-debarment by other multilateral development banks under the Agreement of Mutual Recognition of Debarments that was signed in April 2010.