World Bank Settlement Agreements

The transaction agreement with Ms. Abdalah provides for a reduced prohibition period for her cooperation and voluntary corrective measures. As a precondition for the lifting of the sanction, in accordance with the terms of the transaction agreement, Ms. Abdalah is committed to implementing ethics training in accordance with the principles set out in the World Bank Group`s integrity guidelines. It also pledges to continue to cooperate fully with the Vice-President of the World Bank Integrity Group. The blockage does not allow fcc Construccién S.A. to participate in projects and operations funded by World Bank Group institutions. It is part of a transaction agreement in which the company does not dispute the fault of the underlying sanctions practices that took place under a previous ownership structure and undertakes to comply with certain compliance conditions for the companies as a condition for the release of the unlock. Ms. Abdalah, a project consultant, was blocked for 18 months as part of fraudulent practices as part of the Hurricane Felix Emergency Recovery Project in Nicaragua. According to the facts described in the transaction agreement, Ms.

Abdalah falsified purchase documents in favour of two companies bidding for public contracts under the project. According to The World Bank`s consultant guidelines, these measures constitute a fraudulent practice. The company is committed to developing and improving an integrity compliance program in accordance with the principles set out in the World Bank Group`s Integrity Compliance Guidelines. The company also pledges to continue to cooperate fully with the World Bank Group Vice-President in the process of dyeing and to repay US$5.5 million to the Colombian authorities. The Debarments do not involve Constructora Quintero S.A., based in Nicaragua – CONSTRUQUINSA and Jelua del Carmen Abdalah Ramirez, for a period of 15 and 18 months respectively, to participate in World Bank Group projects. They are part of two separate transaction agreements, under which the company and the consultant recognize responsibility for the underlying practices. Nec has been sanctioned by a conditional non-blocking for 18 months, which means that it is still allowed to participate in World Bank-funded projects as long as it fulfils its obligations under the settlement agreement.