WASHINGTON, July 8, 2025-The World Bank Group today announced the 18-month debarment with conditional release of Netherlands-based GenKey Solutions B.V. ("GenKey"), in connection with a fraudulent practice as part of the Social Safety Nets Project in the Republic of Liberia that became effective in 2017.
The project was designed to establish the key building blocks of a basic national safety net delivery system and provide income support to Liberian households who are both extremely poor and food insecure. According to the facts of the case, GenKey failed to disclose commissions paid or to be paid to an agent in connection with a contract under the project. GenKey did so recklessly due to the inadequacy of its internal controls and supervision. This amounts to a fraudulent practice under the World Bank's Guidelines: Selection and Employment of Consultants under IBRD Loans and IDA Credits & Grants by World Bank Borrowers.
The debarment makes GenKey ineligible to participate in projects and operations financed by institutions of the Bank Group. It is part of a settlement agreement under which the company acknowledges responsibility for the underlying sanctionable practice and agrees to meet specified conditions as a condition for release from debarment.
The settlement agreement provides for a reduced period of debarment in light of GenKey's compliance program, cooperation, acceptance of responsibility, and commitment to restrain from seeking additional Bank Group-financed contracts. As a condition for release from sanction under the terms of the settlement agreement, the company commits to developing and implementing integrity compliance measures that reflect the relevant principles set out in the World Bank Group Integrity Compliance Guidelines. The company also commits to continue to fully cooperate with the World Bank Group Integrity Vice Presidency.
The debarment of GenKey qualifies for cross-debarment by other multilateral development banks (MDBs) under the Agreement for Mutual Enforcement of Debarment Decisions that was signed on April 9, 2010.
