Deterrence and rehabilitation

• Author: European Investment Bank
• Pages: 29-30

29DETERRENCE AND REHABILITATION

DETERRENCE AND

REHABILITATION

The EIB Exclusion Policy states that an individual or entity that is found to have engaged in prohibited conduct may

be excluded from participation in EIB-financed projects or operations. The EIB can also enter into settlement

agreement negotiations with such an individual or entity. Settlement agreements generally include a period of

exclusion, an undertaking to cooperate in any future investigations, the implementation of a risk mitigation strategy

and, in certain cases, the funding of international anti-corruption or other initiatives.

Please consult the EIB exclusion

web page for:

• a list of entities publicly

excluded from EIB-financed

projects and activities;

• a list of historical settlement

agreements reached between

the EIB and respective parties.

Settlement agreement with Sediver

In 2019, the EIB and Sediver SAS, the French entity of the Sediver group, came to an agreement regarding Prohibited

Conduct committed in 2010 in connection with one package relating to the refurbishment of a 400kV HVAC

transmission line under the EIB-financed Regional and Domestic Power Markets Development Project (PMEDE) in the

Democratic Republic of Congo. According to this agreement, Sediver SAS is conditionally non-excluded for a period

of two years from the entry into force of the agreement (24 September 2019). This means that Sediver SAS remains

eligible to participate in EIB financed projects as long as it complies with the terms of the settlement agreement. In

turn, the EIB has concluded its investigation and Sediver SAS has undertaken to fully cooperate with the EIB in the

exchange of best practices in relation to compliance standards and in the fight against fraud.

Since the beginning of the investigation, Sediver SAS cooperated with the EIB in clarifying matters related to the

wrongdoing addressed. Besides, from 2015 onwards, Sediver has considerably reinforced its compliance management

system, processes and resources to support its high ethical standards.