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 |
|---|---|---|---|
GE Power Systems GmbH | Company | Apr 12, 2019 | inactive |
COMPEQ | Company | Aug 9, 2013 | active |
Construtora OAS Ghana Limited | Company | May 3, 2022 | active |
PT TIMAS Planindo Dinamica | Company | Dec 13, 2011 | active |
ROJOKE CNE SERVICES LTD | Company | Mar 4, 2019 | active |
Sangar Associates Limited | Company | Sep 15, 2020 | active |
GETINSA ENGINEERING VIETNAM CO. LTD. | Company | Feb 4, 2022 | active |
Hebei Construction Group Corporation Limited Baoding Baigou New City Branch | Company | Jul 22, 2024 | active |
Taihan Kuwait Fiber Optic Cable Co | Company | May 2, 2024 | active |
ALTAI LANHAO CLEAN THERMAL CO LTD | Company | Jun 2, 2021 | inactive |
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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