How does the Bank deal with cases of fraud or corruption in procurements under projects financed by the Bank?
The Bank expects that Staff of Borrowing Member Countries and bidders, suppliers, contractors, consultants and concessionaires shall observe the highest standards of ethics during the procurement process. The Bank will conduct its own investigation, if it comes to know of any fraud or corruption cases during the procurement process. In the event that fraud or corruption is established, the Bank will then take some or all of the following actions: • Reject a proposal for award, if the award of contract was recommended by the Borrower; • Cancel the portion of the loan allocated for procurement of goods, works or consultancy services during the procurement process or during the execution of the project; • Declare the firm an ineligible supplier, either indefinitely or for a stated period of time to be awarded a Bank financed contract.
