Niall Hearty of financial crime specialists Rahman Ravelli
considers the impact of what has been agreed.
Three companies have reached a settlement with the World Bank
over their activity relating to the development of two airports in
Madagascar
The construction firms Bouygues Bâtiment International and
Colas Madagascar and airport developer ADP International agreed to
resolutions with the World Bank over collusive practices regarding
the $250 million expansion and renovation of the two airports.
The World Bank said the companies had attended improper meetings
with government officials seven years ago, while the bidding
process for the airport contracts was underway.
France-based Bouygues Bâtiment was not debarred from
future work but is now subject to a 12-month probation period.
Colas Madagascar, a subsidiary of French engineering company Colas,
was debarred for two years. It had arranged the meetings and failed
to disclose them to the bank, leading to it also
