World Bank Negotiated Resolution Agreement

The settlement agreement provides for a shortened blocking period due to Al-Zubairi`s cooperation and voluntary corrective measures. As a condition of exemption from sanctions under the terms of the Settlement Agreement, Al-Zubairi is committed to conducting a business ethics training program consistent with the principles of the World Bank Group`s Integrity Compliance Guidelines. It also pledges to continue to cooperate fully with the World Bank Group Vice Presidency on Integrity. By including the anti-corruption guidelines in the legal agreement and through corresponding provisions in the Government Procurement Regulation and related tender documents, the World Bank aims to show all parties involved the consequences of sanctioned misconduct in Bank-financed projects. The exclusion of crossword puzzles may be mutually excluded by other multilateral development banks (MDBs) under the Convention on the Mutual Application of Exclusion Decisions signed on 9 April 2010. The settlement agreement provides for a shortened penalty period to recognize: (i) the corrective actions taken by COBRAPE at the time of settlement of the contract to resolve and mitigate the problem; (ii) the time elapsed since the conduct in question; (iii) the years of implementation by the undertaking of a revised contract control system; (iv) COBRAPE`s efforts to establish an integrity program and improve its internal controls; (v) The company`s voluntary reluctance to bid on contracts financed by the World Bank Group during settlement negotiations; and (vi) the respondent`s cooperation with the World Bank Group during settlement negotiations. A World Bank investigation or sanction case can also be resolved through an out-of-court settlement between the defendant and the INT, called a Negotiation Resolution Agreement (NRA). The Parties may conclude an NRA at any time before or during the sanction procedure until the GNI notifies the uncontested sanction procedures or, where appropriate, the Sanctions Committee takes a decision. All NRAs must be approved by the Vice Presidency of the World Bank and will be submitted to GNI for confirmation that (i) the respondent has freely and fully entered the NRA under the terms of the NRAs and without any coercion, and (ii) the terms of the NRAs do not manifestly violate sanction procedures or sanctions guidelines.

RNAs enable rapid problem resolution with less investment of resources and provide both parties with a higher level of security. In its 2016 fiscal year, the World Bank Group provided more than $64 billion in financing to support projects in virtually every developing country and in almost every sector.1 As a trustee of its member countries` funds, the World Bank has a duty under its Articles of Agreement to ensure that these funds are used for their intended purpose. paying due attention to economics and efficiency.2 The World Bank`s fraud and corruption detection and deterrence systems are based on this fiduciary duty and are designed both to protect the integrity of World Bank-funded projects and to deter future misconduct. The second comparison, which results from a bank investigation in Brazil that led to several cases of sanctions, shows how these agreements help promote better business practices. The settlement company, a large entrepreneur, is a frequent business partner of the World Bank Group. Under the terms of the agreement, the Company undertakes to develop and implement integrity compliance measures, including but not limited to developing or revising its anti-fraud policies, improving its internal controls, training its employees in anti-fraud and general business ethics, and continued cooperation with the World Bank Group`s anti-corruption efforts. Beyond the specific transactions at issue in this case, these improvements to the Company`s integrity compliance standards and business practices are expected to benefit the Broader portfolio of current or future World Bank projects undertaken by the Company or its affiliates. The first agreement with a company in the Republic of Yemen is an example of international cooperation in the fight against corruption. The agreement arose from a case supported by the extensive cooperation of the United Nations Office for Project Services, which is responsible for implementing the project under a special financing agreement with the World Bank Group. In 2010, the World Bank concluded an agreement on the mutual execution of exclusion decisions with four other major multilateral development banks: the African Development Bank, the European Bank for Reconstruction and Development, the Asian Development Bank, and the Inter-American Development Bank.18 If a company or individual is excluded from one of these multilateral development banks for more than one year, it will be exempted from 19 This Agreement significantly increases the effect of exclusion decisions from this SBD […].