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African Development Bank Suspends Chinese Contractor Due to Fraud

Exterior of the African Development Bank headquarters in Ivory Coast. Image via AfDB.

The African Development Bank (AfDB) banned China Henan International Corporation Group (CHICO) from working on any bank-funded projects for one year following an investigation that found “fraudulent activity.”

The bank determined that CHICO failed to disclose that it hired a paid agent to assist with its bid on a road-building project in Uganda.

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