Artelia SAS has received a 6-month conditional non-exclusion from EIB-financed projects due to its failure to make the required disclosures in its covenants of integrity in connection with three projects financed by the EIB.
The conditional non-exclusion was reached through a negotiated settlement agreement, allowing Artelia SAS to remain eligible to participate in EIB financed operations, activities and tenders, and to be awarded EIB-financed contracts, provided that it complies with the terms of the Agreement. These stipulate, inter alia, that for a period of six months, Artelia SAS undertakes to enforce and enhance the level of standards applicable to its compliance programme and to closely cooperate with the EIB and assist it in its efforts to investigate prohibited conduct in EIB-financed projects. Both parties also agreed to exchange best practices in relation to compliance standards and the fight against fraud.
During the investigation process, Artelia SAS cooperated fully with the EIB and helped clarify matters and provided information and material related to the above referred matter in full transparency. Finally, Artelia SAS proactively took steps to implement measures to enhance its corporate governance and compliance system to prevent such matter from recurring.