The World Bank said Monday it has cancelled its funding for three projects in impoverished Bangladesh after it found evidence of corrupt bidding practices. The contracts were for projects aimed at improving health, nutrition and municipal services.
The World Bank said an independent review by international auditors found bidders for the contracts had colluded to artificially inflate prices.
The “World Bank cancelled 1.016,784 US dollar from three projects after investigations found evidence of inappropriate and collusive bidding that violated procurement norms,” it said in a statement.
Kilde: www.worldbank.org
