Settlement agreement reached between the EIB and CCECC

The European Investment Bank (EIB) and China Civil Engineering Construction Corporation (CCECC) have entered into a settlement agreement that addresses past misconduct by CCECC as a tenderer in procurement procedures for projects that had been financed by the EIB. The misconduct concerns projects in Ecuador, Egypt, Malawi, Montenegro, Serbia, Tunisia, Ukraine and Zambia.

As part of this settlement, CCECC agrees to enforce the level of standards applicable to its compliance programme and to report on its material developments for a period of twelve months, starting from 31 August 2023. In addition, during the same time, CCECC undertakes to closely cooperate with the EIB and assist it in its efforts to investigate prohibited conducts in EIB-financed projects, including those committed by third parties. The EIB and CCECC intend to continue to cooperate with each other even beyond the above-mentioned period in the fight against prohibited conducts.

CCECC remains eligible to participate in EIB-financed operations and activities, to participate in EIB-financed tenders and to be awarded EIB-financed contracts, provided that CCECC complies with the terms of the settlement agreement.

During the investigation process, CCECC had cooperated in full with the EIB and had helped clarify matters and provided information and material related to the wrongdoing addressed in full transparency.