Canada has the dubious honour of being home to the largest number of firms on a World Bank blacklist of corrupt companies.
But virtually all of that can be attributed to one Canadian company -- SNC Lavalin, the construction and engineering giant whose name is becoming a paragon of Canadian corruption.
Of the more than 600 companies now listed as barred from doing business with the World Bank over corruption, 117 are Canadian, the most of any one country. And of those, 115 represent SNC-Lavalin and its subsidiaries, the Financial Post reports.
Among the listed SNC subsidiaries are Candu Energy, which designs CANDU nuclear reactors, and Evergreen Rapid Transit Holdings, the SNC-Lavalin company established to build Vancouver's new Sky Train line.
The World Bank’s head of corruption investigations, James David Fielder, told the paper the SNC subsidiaries’ inclusion was due to “a World Bank investigation relating to the Padma Bridge project in Bangladesh where World Bank investigators closely cooperated with the Royal Canadian Mounted Police in an effort to promote collective action against corruption.” (more...)
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