What happens when INT investigates a MIGA matter, and believes there has been fraud or corruption?
A At present, INT works with MIGA management when any investigation indicates a serious possibility that there has been fraud, corruption or other prohibited activities, so that MIGA management can take the appropriate action under our Contracts. This, fortunately, has been rare, but MIGA has worked closely with INT whenever such situations have arisen. In the future, MIGA Counterparties will also be subject to a formal sanctions and debarment system, similar to the system that has been applied as part of the World Bank Group’s procurement process for some years. Companies that are found to have committed fraud, corruption, collusion or coercion in MIGA projects may be debarred from financing by MIGA and the other members of the World Bank Group.
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