ADB blacklists 37 companies for corruption

Manila-based Asian Development Bank (ADB) has announced having blacklisted 37 companies from dealings with it for up to 10 years for violating the bank’s anti-corruption code. The bank does not disclose the identities of those it debars. It banned 34 firms for one to seven years and three firms for 10 years from competing for ADB contracts. Fourteen individuals were banned indefinitely and 17 for periods ranging from one to seven years, while one person was reprimanded, the ADB said in a statement.