The European Investment Bank (EIB) and the Beninese company Agence d’Exécution des Travaux d'intérêt Public (AGETIP-BENIN) have entered into a settlement agreement that addresses historical misconduct in connection with the AEP Abidjan project. The project had been financed by the EIB.
AGETIP-BENIN, in a consortium with two other partners, had participated in a call for expression of interest. This expression of interest contained a falsified document because AGETIP-BENIN did not take the necessary precautions to ensure the veracity and authenticity of the information concerning it that was submitted by its local partner.
As part of this settlement, AGETIP-BENIN will be excluded from EIB-financed projects for 18 months. Furthermore, AGETIP-BENIN will closely cooperate with the EIB, and assist it in its efforts to investigate prohibited conduct in EIB-financed projects.
During the investigation process, AGETIP-BENIN cooperated in full with the EIB and helped clarify matters and provided information and material related to the wrongdoing addressed in full transparency.