143-04

The Office of Institutional Integrity (the “OII”) submitted a Statement of Charges and Evidence against a respondent (“Respondent”), who acted as the legal representative of a company that was executing a Bank-financed COVID related Project, for allegedly misappropriating funds. The Sanctions Officer (“SO”) determined that it was more likely than not that the Respondent engaged in a misappropriation. As a result, the SO imposed a conditional non-debarment sanction for 18 months. During this period, the Respondent may continue to participate in IDB Group-financed operations and receive contract awards, provided the company demonstrates that all employees have received adequate, sufficient, and continuous training in corporate integrity and business ethics. Failure to meet these conditions will result in a one-year debarment. In accordance with Section 8.3 of the Sanctions Procedures, the sanction was extended to a firm over which the sanctioned Respondent exercised control.