Statement on Sri Lanka Media Allegations

Stocks and Financial Services Press Releases Wednesday October 11, 2017 08:16
WASHINGTON--11 Oct--World Bank
WASHINGTON, October 10, 2017—The World Bank today released the following statement concerning erroneous reporting in Sri Lanka:

There are allegations in the media in Sri Lanka referring to the announcement on September 28 by the World Bank of the debarment of SMEC International Pty. Ltd., a subsidiary of SMEC Holdings Pty. Ltd., for 12 months. These allegations are not based on any statements from the World Bank and falsely use the World Bank's name as a source for these allegations. The statement on SMEC's debarment can be found here.

The World Bank takes allegations of fraud and corruption affecting Bank-financed projects seriously. Under the World Bank policy governing the disclosure of investigations, we cannot share additional details relating to evidence or process. Our investigative findings are referred to concerned governments to determine whether or not there has been a violation of national laws. The outcome of investigations of such allegations are publicly announced on the World Bank Group's Integrity webpage: or

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