TETELESTAI Notification List

The TETELESTAI (It is finished) email which will contain the first 800#'s will be posted first on a private page and will be sent out to everyone subscribed to the private page's feed.

If you wish to subscribe to the private page's feed, please visit the TETELESTAI page located HERE and access the private page.

If you're having trouble please give me an email at TetelestaiDC@gmail.com

(Note: The TETELESTAI post is the official "Go" for redemption/exchange.)

Guest Posting & Responding Now Available

Dinar Chronicles is now allowing viewers to guest post and respond to articles. If you wish to respond or speak your mind and write a post/article or about the current situation relating to Iraq, the RV, the GCR and so on. You may now send in an entry.

All you need to do is send your entry to UniversalOm432Hz@gmail.com with these following rules.

The subject line of your email should be: "Entry | (Title of your post) | Dinar Chronicles"

- Proper grammar
- Solely write intel, rumors, news, thoughts, messages regarding Dinarland, Iraq, the RV, the GCR, NESARA/GESARA, the Republic, Spirituality, Ascension and anything that is relating
- Your signature/name/username at the end (If you wish to remain anonymous then you don't need to provide one.)

If you have any questions or wish to communicate with us then please give us an email at UniversalOm432Hz@gmail.com

Send your entry and speak out today!

Follow Dinar Chronicles by Email

Featured Post

Restored Republic via a GCR: Update as of Nov. 24, 2017

Restored Republic via a GCR Update as of Nov. 24 2017 Compiled 12:01 am 24 Nov. EDT by Judy Byington, MSW, LCSW, ret, CEO, Child Abuse Rec...

Tuesday, June 20, 2017

Zimbabwe: Banks, Fraud, End of Corruption, Hints of "Global Compliance"

Zimbabwe: AfDB Blacklists Sinohydro



Photo: lejecos

(File photo).

African Development Bank and Sinohydro have reached a settlement agreement on fraudulent practices. Sinohydro Corporation has agreed to a comprehensive verification of its compliance programme by the African Development Bank following the detection of a fraudulent practice in tendering for works contracts in Uganda.

Sinohydro has been awarded contracts in Zimbabwe, which include Kariba South extension and Hwange Power Station. The tender for Kariba South was awarded at a total cost of $533 million, a figure which was criticised for being double the price of similar expansion works on the other side of Zimbabwe.

On June 15, 2017, the African Development Bank Group (AfDB) announced the conclusion of a settlement agreement with Sinohydro Corporation.

An investigation conducted by the AfDB's Office of Integrity and Anti-Corruption established that Sinohydro Corporation engaged in a fraudulent practice in bidding for works contracts in the context of the AfDB-financed Road Sector Support Project in Uganda.

As part of the settlement, the AfDB imposes a conditional non-debarment for a period of three years, subject to the company enhancing its global corporate compliance programme within that period to the institution's full satisfaction.

The AfDB will verify the adequacy of Sinohydro Corporation's compliance framework and the robustness of its implementation prior to any release decision.

In addition, Sinohydro Corporation committed to co-operate with the Office of Integrity and Anti-Corruption in its investigations of unrelated cases of misconduct in AfDB-financed projects. The period of conditional non-debarment may be reduced to 24 months if Sinohydro Corporation complies with all conditions of the agreement early.

"The purpose of the Bank's sanctions regime is in equal measures the deterrence of sanctionable practices such as fraud and corruption and the rehabilitation of entities found to have engaged in such.

"Engaging with companies and ensuring the implementation of robust corporate compliance safeguards is key to avoid recidivism," says Anna Bossman, Director of the AfDB Office of Integrity and Anti-Corruption.

In 2013, Sinohydro Corporation is said to have participated in a tender for works contracts under the Bank-financed Road Sector Support Project in Uganda.

The investigation by the Office of Integrity and Anti-Corruption found that Sinohydro Corporation misrepresented its prior project experience by using not yet successfully and substantially completed contracts as references.

The Office of Integrity and Anti-Corruption of the African Development Bank Group is responsible for preventing, deterring and investigating allegations of corruption, fraud and other sanctionable practices in Bank Group-financed operations.

The investigation by the Office of Integrity and Anti-Corruption of the African Development Bank was conducted by Mohamed Konneh and Esther Lynn Mhone. African Development Bank staff and the general public can use the Office of Integrity and Anti-Corruption secured hotlines to report sanctionable practices within the Bank or operations financed by the Bank Group.

Since 2006, investment from China has rapidly increased in Africa. According to a World Bank report in 2008, most of the Chinese investment goes to the infrastructure sector, mostly hydropower, railroad, and telecommunications.

The hydro-power projects are widely blamed for negative impacts on local community and natural environment. Sinohydro was also fired as Botswana's primary contractor on Gaborone's Sir Seretse Khama International Airport (SSKIA) Expansion Project Phase 2.

At the time of termination of the contract, Sinohydro had completed approximately 90 percent of the project and had been paid about P527 million.

Source: All Africa

Reactions:

Disclamer:

We are in compliance with, "Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favor of fair use."

All rights reserved go to their respective holders. We do not own the intellectual property shown on this website, the respective holders own that privilege unless stated otherwise.

We do not endorse any opinions expressed on the Dinar Chronicles website. We do not support, represent or guarantee the completeness, truthfulness, accuracy, or reliability of any content or communications posted on Dinar Chronicles.

Dinar Chronicles is not a registered investment adviser, broker dealer, banker or currency dealer and as such, no information on the website should be construed as investment advice. We do not intend to and are not providing financial, legal, tax, political or any other advice to any reader of the website. This website is...Read More