The World Bank announced today a settlement agreement with Construtora Norberto Odebrecht S.A. (CNO) whereby the company does not contest your participation in practices that contradict guidelines of the institution in connection with a sanitation project in Colombia, not performed by CNO.

The execution of the settlement agreement sums to agreements already signed by the Odebrecht group with other institutions in Brazil and abroad. Since December 2016, the company already signed settlement agreements in Brazil with the Federal Public Prosecutor’s Office (MPF), Office of the Comptroller General (CGU), Attorney General of Brazil (AGU), Administrative Council for Economic Defense (CADE) and the Executive Branch of States and Municipalities. The company already also signed settlement agreements with authorities of other 6 countries – United States of America, Switzerland, Dominican Republic, Panama, Ecuador and Guatemala–, and is still in negotiations with other countries that were part of the cooperation of the company.

As result of the settlement agreement, Construtora Norberto Odebrecht S.A. will not be able to participate in new projects funded by the World Bank for 3 years.

Construtora Norberto Odebrecht S.A. has committed to keep the improvement process of its Compliance Program implemented on the last two years, in accordance with the World Bank’s Integrity and Compliance Guidelines.