Adb Cross Debarment Agreement

The agreement does not change the definition or types of sanctionable practices. These are common to all MDMs (with the exception of the obstruction practices contained in the banking group`s definitions, but which are not part of the sanctionable practices covered by the supervisory agreement). This document sets out the terms of the agreement between the African Development Bank Group, the Asian Development Bank, the European Bank for Reconstruction and Development, the Inter-American Development Bank Group and the World Bank Group on Mutual Recognition and Implementation of the participating institution`s longshore mechanisms and decisions. The lockout is the recognition of the unlocking decisions by the signatories of the agreement on mutual enforcement of longshore decisions on the same terms as the original decision. Therefore, a decision of one of the signatories, a company or a person who has committed a fault is referred to as “sanctioning practices” sanctioned by others. Signatories are referred to as “participating institutions.” The participating institution that makes a first decision to unlock is the institution of sanctions. The basic penalty for breaches of integrity is a 3-year ban. The Integration Committee (IOC) may impose a more or less limited prohibition period depending on the circumstances of each case. The IOC will focus on the following areas: sanctions violations, second offences and subsequent offences, closed entities that are not reachable, entities closed by cross no Recognition of a decision of adversity prevents a sanctioned company from awarding a bank-financed contract. No no. The cross lock only applies after the effective date and existing contracts are not affected. However, the bank will generally not approve any changes that will increase the value of existing contracts with sanctioned companies.

The cooperation division of the World Bank Group, the European Bank for Reconstruction and Development (EBRD) and the Asian Development Bank (CID) now applies to IFC operations. Cross-efficiency is also expected for the Inter American Development Bank (IADB) and the African Development Bank (AfDB). It applies to all existing investment and advisory commitments subject to the WBG sanctioning process, as well as to all new commitments. According to the Cross Debarment Agreement, the ADB may cross-reference parties that have been excluded from one of the participating multilateral development banks (MDBs) and vice versa. No no. The Bank will only recognize unlocking decisions as part of the mutual enforcement agreement.

This entry was posted in Uncategorized.
Bookmark the permalink.