The World Bank (WB) Group announced recently the debarment of Romanian firm Tehnoplus Medical for two years. As a press release informs, the debarment is part of a Negotiated Resolution Agreement (NRA) between the international financial institution and the company, following a World Bank investigation into allegations of bribery under the Romania Health Sector Reform 2 Project.
“According to evidence unveiled by the investigation, Tehnoplus paid EUR 168,860 in bribes in exchange for the award of an equipment supply contract. These corrupt payments constitute a sanctionable practice under the World Bank Group sanctions system,” the release reads.
Under the terms of the NRA, Tehnoplus commits to cooperate with the World Bank Group Integrity Vice Presidency, and to improve its internal compliance program, to make that program consistent with the Integrity Compliance Guidelines approved by the World Bank Board of Directors in 2010.
The debarment of Tehnoplus Medical qualifies for cross-debarment by other MDBs under the Agreement of Mutual Recognition of Debarments that was signed on April 9, 2010.
Tehnoplus Medical has received in recent years, several contracts with hospitals in Romania. In 2015, the company had a turnover of RON 100.8 million and a net profit of RON 21.6 million, according to the balance sheet submitted to the Ministry of Finance.