World Bank debars German oil and gas contractor for 13 months
The World Bank has announced the 13-month debarment of Germany’s Ferrostall Oil & Gas (FSOG), an engineering, procurement and construction contractor for oil, gas and other industrial plants.
It is in connection with an alleged fraudulent practice under the Bank-financed Ayeyarwady Integrated River Basin Management Project in Myanmar.
The project was designed to strengthen climate-resilient management and development of the river, in the event of an eligible crisis or emergency.
The debarment makes FSO ineligible to participate in projects and operations financed by institutions of the World Bank Group for 13 months.
Priyanka Shrestha
