World Bank debars Odebrecht

World Bank debars Odebrecht

Corporate & Sovereign Strategy Loans Project & Infrastructure Finance Brazil

The World Bank said it has barred Odebrecht's construction business from participating in any projects it finances for the next three years. Odebrecht admitted that it failed to disclose payments to "commercial agents" during the bidding process for a wastewater treatment and flood control project on the Bogotá River in Colombia, the World Bank said in a statement. "Odebrecht, assisted by one of the agents to which it had paid undisclosed fees, further sought to improperly influence the tender

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