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World Bank debars Odebrecht subsidiary

Jaclyn Jaeger | January 29, 2019

The World Bank today announced that it has imposed a three-year debarment on Brazil-based construction and engineering company Construtora Norberto Odebrecht for fraudulent and collusive practices during its participation in the World Bank-financed Río Bogotá Environmental Recuperation and Flood Control Project in Colombia.

The debarment makes Construtora Norberto Odebrecht—the construction and engineering subsidiary of the global firm Odebrecht and the largest such firm in Latin America—ineligible to participate in World Bank-financed projects. It is part of a settlement agreement under which the company acknowledges responsibility for the underlying sanctionable practices and agrees to meet specified...

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