Asian Development Bank Sanctions
The Asian Development Bank (ADB) imposes sanctions to maintain integrity and ensure fair practices in its operations. These sanctions are applied to individuals, firms, or organizations found to have committed fraud, corruption, or other unethical behaviors during ADB-Funded projects. The goal is to protect the adb’s financial resources and promote accountability.
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1,632 Entities in Asian Development Bank Sanctions
| Entity Name | Entity Type | Effective Date | Status |
|---|---|---|---|
KLNB Group LLC | Company | May 4, 2016 | active |
Hebei Construction Group Corporation Limited Decoration Branch | Company | Jul 22, 2024 | active |
2nd Construction Branch of Weihai Construction Group Co Ltd | Company | Apr 4, 2022 | inactive |
Hebei Tianying Construction Engineering Co Ltd | Company | Jul 22, 2024 | active |
China National Heavy Machinery Corporation | Company | May 26, 2022 | inactive |
LTB LEITUNGSBAU GMBH | Company | Dec 22, 2016 | inactive |
CMBI SNC | Company | Feb 25, 2022 | inactive |
Consulting Engineers and Technical Advisors Variable Capital Limited Liability Company | Company | Dec 16, 2021 | active |
BERKMAN INTERNATIONAL INC | Company | Aug 17, 2017 | active |
Hebei Construction Group Corporation Limited Jiaozhou Branch | Company | Jul 22, 2024 | active |
FAQs
Why is compliance with Asian Development Bank Sanctions necessary?
Compliance with sanctions imposed by the Asian Development Bank (ADB) is crucial for several reasons. First, these sanctions aim to promote fairness and integrity in development projects. By adhering to ADB sanctions, organizations help maintain a level playing field, ensuring that all entities operate according to the same standards.
Which companies should comply with Asian Development Bank Sanctions?
Businesses in sectors like finance, construction, and technology must comply with Asian Development Bank (ADB) sanctions. Compliance is crucial as it helps prevent financial dealings with restricted entities. Following these sanctions safeguards your organization from legal risks and promotes ethical practices, ensuring you do not inadvertently support activities that harm regional stability and growth.
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