Beijing, July 31, 2025 — The Asian Infrastructure Investment Bank (AIIB) has announced the five (5)-year debarment of Akkord Industry Construction Investment Corporation OJSC (Akkord) for Fraudulent Practices in relation to Akkord’s involvement in the Uzbekistan: Bukhara-Road Network Improvement Project, Phase I (the Project). The Project aims to improve road efficiency, safety, and climate resilience of major international cross-border roads in Bukhara and road networks in Karakalpakstan and Khorezm regions.

According to the facts of the case, Akkord engaged in Fraudulent Practices by making multiple misrepresentations in the bids it submitted jointly with another company while bidding for a contract under the Project.

This debarment decision by AIIB’s Sanctions Officer makes Akkord ineligible to be awarded and/or participate in additional contracts for Projects (as defined in the AIIB’s Policy on Prohibited Practices or “PPP”) for a period of five (5) years beginning July 3, 2025, in accordance with Section 7.2.2 of the PPP. For a complete list of AIIB debarred entities, please visit the AIIB’s Debarment List.

About AIIB Investigations and Sanctions

Investigation and sanctions decisions in relation to AIIB-funded projects and activities are guided by AIIB’s Policy on Prohibited Practices (PPP), which also defines all sanctionable Prohibited Practices. Investigations into allegations of Prohibited Practices are carried out by AIIB’s Complaints-Resolution, Evaluation, and Integrity Unit (CEIU). AIIB sanctions are imposed by its Sanctions Officer. Appeals of decisions by the Sanctions Officer are reviewed by AIIB’s Sanctions Panel, whose decision is final.