World Bank Press Release: Friday, July 23, 2004
World Bank Sanctions Acres International Limited
World Bank News Release No: 2005/33/S
WASHINGTON, Jul. 23, 2004 – The World Bank has sanctioned Acres International Limited (Acres), a Canadian company, as a result of corrupt activities related to its Bank financed contract associated with the Lesotho Highlands Water Project (LHWP). Acres was declared ineligible to receive any new Bank financed contracts for a period of three years. This action is part of the Bank’s broad anticorruption efforts initiated by President James Wolfensohn in 1996. More information on the World Bank’s overall anticorruption policies and activities can be found at: http://www.worldbank.org/anticorruption.