EBRD investigation finds Lotex used improper payment to secure Serbia waste contract, debars firm 3 years 3 months

• EBRD investigation found Lotex used corrupt, fraudulent practices in a tender under Serbia’s Solid Waste Programme.
• Lotex made an improper payment to a competitor to secure the contract award, concealed as consultancy fees.
• EBRD debarred Lotex and two subsidiaries for 3 years 3 months, cutting the term for cooperation and admission.
• Lotex barred from EBRD-financed projects during the debarment; decision qualifies for cross-debarment by other MDBs.

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