Brussels, 18/03/2013 (Agence Europe) - On Friday 15 March 2013, the European Investment Bank (EIB) and Siemens reached a settlement over alleged violations of the EIB's anti-fraud policy in the past in projects funded by the bank. The settlement follows an investigation by the EIB, with the backing of Siemens and OLAF, into the action of a Siemens body in connection with a call for tender.
Under the settlement, Siemens agrees to ensure that the body in question voluntarily refrains from bidding for projects financed by the EIB and to refrain from any kind of relationswhip with the bank, whether as bidder, entrepreneur, consultant or supplier, for 18 months.
Under the agreement, Siemens also pledges to provide finance totalling €13.5 million over five years to international bodies, intergovernmental organisations, non-governmental organisations and professional or academic bodies that support projects or other initiatives to encourage good governance and anti- corruption.
In addition, Siemens has agreed to work closely with the EIB and help it in its investigations into alleged misconduct in EIB-funded projects. The two parties have agreed to swap best practices on abiding by ethical standards and tackling fraud and corruption. (OL/transl.fl)