Webcast replay overview
The five institutions of the World Bank Group are an important source of finance for developing countries providing loans, credits, and grants to support projects around the world. In the first half of 2020, the World Bank announced a range of measures to respond to COVID-19 “earlier this year”. This included immediately increasing funding to $74 billion for international programs along with the commitment to provide upwards of $160 billion over the next 15 months.
Within the World Bank organization, the Integrity Vice Presidency (INT) has the responsibility of investigating allegations of fraud and corruption in World Bank-financed projects. Recipients of world bank funds who do not follow Procurement Guidelines, may face audits and enforcement actions, including sanctions and debarment. The World Bank enforcement mechanisms are unique. Understanding and navigating them can be challenging and likely different from the experiences companies, individuals, and legal counsel have had with other enforcement regimes.
Join KPMG and Gibson Dunn for a webinar replay on the requirements of World Bank guidelines and the obligations upon each recipient of world bank funding. The panelists will also discuss publicly availability information on past enforcement actions as well as covering World Bank Group guidance on how to comply with the guidelines and the best ways to navigate any inquiries that arise. Topics for the discussion will include:
- Background on World Bank programs
- Obligations for participants and recipients in World Bank programs
- Enforcement mechanisms
- Responding to INT queries.
We hope you can join us for the informative webinar.
Gibson Dunn Speakers: