The European Investment Bank (EIB) and China Railway 14th Bureau Group Co., Ltd. (CRCC14) have entered into a settlement agreement that addresses past misconduct by CRCC14 as a tenderer in the procurement procedure for an EIB-financed project in Ukraine.

As part of this settlement, CRCC14 agrees to enforce the level of standards applicable to its compliance programme and to report on its material developments for a period of twelve months, starting from 31 August 2023. In addition, during the same period, CRCC14 undertakes to closely cooperate with the EIB and assist it in its efforts to investigate prohibited conducts in EIB-financed projects, including those committed by third parties. The EIB and CRCC14 intend to continue to cooperate with each other even beyond the above-mentioned period in the fight against prohibited conducts.

CRCC14 remains eligible to participate in EIB-financed operations and activities, to participate in EIB-financed tenders and to be awarded EIB-financed contracts, provided that CRCC14 complies with the terms of the settlement agreement.

During the investigation process, CRCC14 had cooperated in full with the EIB and had helped clarify matters and provided information and material related to the wrongdoing addressed in full transparency.