World Bank debars two companies for airport fraud

VANUATU

Investment Project was designed to improve the operational safety and oversight of international air transport and associated infrastructure in Vanuatu.

As a condition of the settlement, Yooshin acknowledged responsibility and took voluntary remedial actions.

The company agreed to develop an integrity compliance programme and co-operate with the World Bank Group Integrity Vice Presidency.

After the 13-month debarment, Yooshin is subject to 17-months of conditional non-debarment.

During the conditional non-debarment, Yooshin will be eligible to participate in World Bankfinanced projects.

Cross-debarment Yooshin’s debarment qualifies for cross-debarment by the Asian Development Bank, the European Bank for Reconstruction and Development, the Inter-American Development Bank, and the African Development Bank.