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World Bank: Sediver SAS debarred for two years

Jaclyn Jaeger | December 5, 2017

The World Bank Group today announced the debarment for two years of Sediver SAS, a Paris-based manufacturing company for power transmission components, in connection to sanctionable misconduct under the Southern Africa Power Market Project in the Democratic Republic of the Congo.

The debarment precludes Sediver SAS from participating in World Bank-financed projects as part of a Negotiated Resolution Agreement (NRA) with the World Bank. In addition, Sediver SAS’ parent company, Sediver SpA, will be conditionally non-debarred for a period of 18 months, which means that Sediver SpA remains eligible to participate in World Bank-financed projects as long as it complies with its obligations under the NRA, which was signed between the World Bank and Seves Group S.à.r.l (Seves), the sanctioned entities’ holding company.

The sanctions follow a...

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