Africa
Development Bank (AfDB) has imposed a three year debarment on China First
Highway Engineering Co. Ltd. following its admission of fraudulent and
collusive practices in an AfDB-financed project. The bank also levied a
financial penalty of $18.86 million on the company to support anti-corruption
projects on the continent.
A
statement issued by the Bank Group said, “Ensuing from investigations conducted
by the AfDB’s Integrity and Anti-Corruption Department (IACD), CFHEC admitted
to
