Government’s Award of Major Infrastructure Projects to Blacklisted Chinese Firm Raises Concerns
The government awarded major infrastructure projects to China CAMC Engineering Company Limited (CAMCE), which is blacklisted by the World Bank and Asian Development Bank for corruption. Projects include upgrading Kadhdhoo Airport to international standards and establishing an integrated maritime hub in the protected area of Gaadhoo, Laamu Atoll. Details are scant. MPL CEO Mohamed Wajeeh Ibrahim praised CAMCE. CAMCE's past projects in Nepal, Sri Lanka, and Bolivia have faced corruption allegations. Financing for the airport project remains undisclosed. The decision raises concerns about due diligence and financial risks.
The government awarded major infrastructure projects to China CAMC Engineering Company Limited (CAMCE), which is blacklisted by the World Bank and Asian Development Bank for corruption. Projects include upgrading Kadhdhoo Airport to international standards and establishing an integrated maritime hub in the protected area of Gaadhoo, Laamu Atoll. Details are scant. MPL CEO Mohamed Wajeeh Ibrahim praised CAMCE. CAMCE's past projects in Nepal, Sri Lanka, and Bolivia have faced corruption allegations. Financing for the airport project remains undisclosed. The decision raises concerns about due diligence and financial risks.
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The government awarded major infrastructure projects to China CAMC Engineering Company Limited (CAMCE), which is blacklisted by the World Bank and Asian Development Bank for corruption. Projects include upgrading Kadhdhoo Airport to international standards and establishing an integrated maritime hub in the protected area of Gaadhoo, Laamu Atoll. Details are scant. MPL CEO Mohamed Wajeeh Ibrahim praised CAMCE. CAMCE's past projects in Nepal, Sri Lanka, and Bolivia have faced corruption allegations. Financing for the airport project remains undisclosed. The decision raises concerns about due diligence and financial risks.
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Focus: Government’s Award of Major Infrastructure Projects to Blacklisted Chinese Firm Raises Concerns
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