World Bank Sanctions Firm For Helping Rig Bids In $150 Million Bank-Financed Philippines Road Project
MANILA, August 22, 2008—The World Bank today announced that it has debarred the Koreanfirm Dongsung Construction Co. Ltd. (Dongsung) for fraudulent and corrupt practices inrelation to a Bank-financed road project in the Philippines.
The first phase of the project, known as NRIMPI, closed in March 2007.
Dongsung did not contest accusations brought against the firm in the Bank’s administrativesanctions proceedings. Under the terms of its debarment, Dongsung cannot be awardeda Bank-financed contract in any country during the next four years.
The debarment is a result of an investigation conducted by the World Bank’s Integrity VicePresidency (INT), which is responsible for investigating allegations of fraud and corruptionin Bank-financed projects. NRIMPI was designed to assist the Philippine government in the upgrading of the roads network and was partially financed by a $150 million loan from theWorld Bank. It aimed not just to build roads, but also to address weaknesses in projectmanagement, so that future roads projects would deliver more benefit at lower cost.
Through an in-depth quantitative and qualitative analysis of the procurement process thatthe firm participated in as well as numerous interviews, investigators uncovered evidence of Dongsung’s involvement in widespread bid-rigging.
Mr. Bert Hofman, World Bank Country Director for Philippines, said, “Rapid action against colluding companies demonstrates that efforts to combat corruption are working and sends a strong signal across the private sector. Building more and better roads to remote areasis critical for development in the Philippines. But it is also critical to take action against corruption. NRIMP is now in its second phase and includes stringent anti-corruption mechanisms,such as the use of an independent procurement evaluator and independent oversightby civil society, in part because of what the INT investigation of NRIMPI revealed.”
The World Bank revised its sanctions procedures in 2006 to allow the Bank to deal withfraud and corruption cases more efficiently. At the first tier of the two-tier sanctioning process, the Evaluation and Suspension Officer reviews the case brought by INT against a respondent. The Bank Evaluation Officer determines whether or not there is sufficient evidence to support the accusations against the respondent and recommends an appropriate sanction. Under the sanctions procedures, when a respondent like Dongsungchooses not to contest the accusations against it within 90 days, the Sanctions Boardwill then impose the recommended sanction.
Mr. Leonard McCarthy, World Bank Integrity Vice President, said, “Effective development requires all of us to be vigilant in detecting fraud and corruption. Those people who bring allegations to INT deserve special commendation for assisting the Bank in seriouslyaddressing corruption. For our part, INT will continue increasing its outreach effortsso as to contribute to an environment that encourages reporting.”
Indonesian Banks Swift Code List
What is the SWIFT Code?The SWIFT address is an 8 or 11 alphanumeric characters long international standard uniquelyidentifying your financial institution. The SWIFT address is also known as BIC (=Bank Identifier Code).Usually swift code used to transfer money from bank to bank (internationally). Please contact your bank for details.
The followings are working SWIFT code for some popular banks in Indonesia as of 3 Nov 2007. Provided by http://www.swift.com/
ABN AMRO Bank: ABNAIDJAHagabank: HAGAIDJABank Artha Graha: ARTGIDJABank Bumiputera Indonesia: BUMIIDJABank Mandiri (not Bank Syariah Mandiri): BEIIIDJABank Niaga: BNIAIDJABank Negara Indonesia (BNI): BNINIDJABank Rakyat Indonesia (BRI): BRINIDJABank Bukopin: BBUKIDJABank Central Asia (BCA): CENAIDJADeutsche Bank AG: DEUTIDJABank Mizuho Indonesia: MHCCIDJAHongkong and Shanghai Banking (HSBC): HSBCIDJABank Internasional Indonesia (BII): IBBKIDJABank Indonesia: INDOIDJALippobank: LIPBIDJABank NISP: NISPIDJABank Rabobank International Indonesia: RABOIDJABank Tabungan Negara (BTN): BTANIDJABank UOB Indonesia: UOBBIDJABank Maybank Indocorp: MBBEIDJABank Chinatrust Indonesia: CTCBIDJABank Sumitomo Mitsui Indonesia: SUNIIDJABank OCBC Indonesia: OCBCIDJABank DBS Indonesia: DBSBIDJABank Mega: MEGAIDJABank of China, Jakarta Branch: BKCHIDJABank Syariah Mandiri (not Bank Mandiri): BSMDIDJA
