SNC Lavalin Canadian Companies World Bank blacklist

SNC Lavalin Canadian Companies World Bank blacklist Canada leads World Bank blacklist of fraudulent companies thanks to SNC-Lavalin Canada leads the world in companies and individuals that have been banned by the World Bank from contributing to... More

SNC Lavalin Canadian Companies World Bank blacklist Canada leads World Bank blacklist of fraudulent companies thanks to SNC-Lavalin Canada leads the world in companies and individuals that have been banned by the World Bank from contributing to international aid and infrastructure projects. Of the 608 companies and individuals listed on the World Bank’s just-released blacklist for fraudulent or corrupt conduct, 119 are Canadian companies. But engineering firm SNC-Lavalin and its subsidiaries, many of which are registered outside Canada, comprise 16 per cent of the total. The World Bank bans companies from participating in aid and development contracts if they “have been sanctioned under the Bank’s fraud and corruption policy. ” The number of companies included on that list soared in 2013, rising from only 65 banned entities on last year’s list, according to the South China Morning Post. The World Bank says about $40 billion of the roughly $200 billion it has given out since 2008 ha Less