SNCAF - SNC-Lavalin says World Bank lifted sanctions two years early

SNC-Lavalin (SNCAF) says the World Bank has granted an early reprieve from sanctions imposed in 2013 over corruption tied to contracts in Bangladesh and Cambodia.The move means SNC-Lavalin and its subsidiaries will be able to bid for and carry out work on projects financed by the World Bank, the African Development Bank, the European Bank for Reconstruction and Development, the Asian Development Bank and the Inter-American Development Bank.The World Bank imposed a 10-year delisting in 2013, which was reduced to eight years since the company met the institution's compliance requirements.RBC Dominion analyst Sabahat Khan says the early lifting of sanctions is a positive development for SNC-Lavalin from a reputational perspective but is not likely to be material from a financial perspective.

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SNC-Lavalin says World Bank lifted sanctions two years early