By Renée Francoeur
February 24, 2015 – Alstom Hydro France and Alstom Network Schweiz, as well as their affiliates were released from their World Bank debarment as of February 21, 2015.
The Alstom subsidiaries are now “free to resume competing for projects financed by the World Bank Group and by other international institutions implementing cross debarment agreements with the World Bank,” said Alstom.
The World Bank’s Integrity Compliance Office (ICO) has determined that Alstom has “implemented a corporate compliance program in line with the World Bank’s integrity compliance guidelines.” The ICO also found Alstom has satisfied all of the other conditions of its February 21, 2012 settlement with the World Bank.
Under Alstom’s December 22, 2014 plea agreement with the U.S. Department of Justice and based on this ICO conclusion, Alstom said it will not be required to engage any compliance monitor.
“Alstom is committed to bidding on and executing all of its projects with ethics and integrity, consistent with Alstom’s Code of Ethics and the policies and procedures of its corporate compliance program,” stated the company.