WORLD BANK GROUP 2021 ANNUAL REPORT ON ITS SANCTIONS SYSTEM

On 30 November, Steptoe & Johnson LLP reported that the World Bank had issued in October a report covering the Bank’s fiscal year from 1 July 2020 to 30 June 2021.  It notes that Since this January, the list of companies and individuals barred from World bank projects (or barred by other development banks, whose action is also replicated by the World Bank) for fraud or corruption includes a description of the practice for which the business or individual has been sanctioned.  It is also remarked that the World Bank does sanction “public officials” (i.e. individuals taking or reviewing selection or procurement process decisions), but not “government officials”, who remain beyond its remit.  During the year covered, the Bank received a higher number of complaints (over 4,000) but opened fewer investigations.

https://www.steptoe.com/en/news-publications/world-bank-group-2021-annual-report-on-sanctions-system-highlights-enforcement-trends-key-issues-and-issues-guidance-on-integrity-audits.html

The report is at –

http://documents.worldbank.org/curated/en/284891634566178252/World-Bank-Group-Sanctions-System-FY21

Its sanctions system is explained at –

https://www.worldbank.org/en/about/unit/sanctions-system

Any modest contributions for my time and ongoing expenses are welcomed!  I have a page where you can do so, and where one-off contributions start as low as $3, at https://www.buymea3coffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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