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The European Law Firm for
Regulatory, Competition and Trade.
The European Law Firm for
Regulatory, Competition and Trade.
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Brazilian affairs: World Bank and IDB Compliance systems

Roland Stein and Bruno Galvão are closely observing the developments in Brazil and have published two articles on JOTA, a leading, specialised legal journal in Brazil, with an average of one million qualified readers each month.

The first article, Debarment due to irregularities committed in projects financed by the World Bank and IDB, was published in December 2020, and presents an overview of the IDB’s and the World Bank’s sanction mechanism of debarment on grounds of committed irregularities such as corruption, fraud, collusion, coercion and obstruction of justice. Two recent Brazilian cases on this topic are also addressed. (Please find here full versions of the article in Portuguese and in English).

The second article, Negotiation and Cooperation with an IDB investigation, was published in January 2021, and deals with the process of the NRA, its conditions and possible consequences, highlighting the benefits of cooperating with the IDB as well as the need for preventive and timely action by companies subject to an investigation. (Please find here full versions of the article in Portuguese and in English).

BLOMSTEIN has a well-established Compliance Practice, in particular with regard to Multilateral Development Banks (MDB) and their compliance mechanisms. If you are interested in discussing other aspects of the investigation processes of MDB, please do not hesitate to reach out to Roland Stein or Bruno Galvão. They are more than happy to assist you.