TASHKENT, Uzbekistan, May 23. The European Bank for Reconstruction and Development (EBRD) has announced a 24-month debarment for the Uzbek company Adolat following an investigation into fraudulent activities linked to the Namangan water project in Uzbekistan, Trend reports.
The investigation, conducted by the EBRD’s Office of the Chief Compliance Officer (OCCO), revealed that Adolat had submitted forged documents to misrepresent its prior work experience as part of its proposal for one of the procurements related to the Namangan water project. Additionally, the company failed to disclose payments made to a local agent in its technical proposal, as required by the project’s guidelines.
The debarment follows a settlement agreement in which Adolat cooperated during the investigation and admitted responsibility for the fraudulent actions. The sanction was reduced in light of this cooperation.
Following the debarment, Adolat is now ineligible to participate in any EBRD-financed projects or operations for a period of 24 months. This disbarment also triggers cross-disbarment under the Agreement on Reciprocal Enforcement of Disbarment Decisions signed by the multilateral development banks on April 9, 2010.
The OCCO plays a key role in upholding the EBRD's commitment to integrity, with a mandate to investigate and address prohibited practices in EBRD-funded projects.