WASHINGTON, March 26, 2025-The World Bank Group today announced the eight-month sanction of Mr. Christian Magni (Mr. Magni), a national of the Republic of Gabon, in connection with a sanctionable practice connected to the International Finance Corporation (IFC) investment in Société d'Exploitation du Transgabonais (SETRAG).
SETRAG operates and manages the Transgabonais, the sole Gabonese railway, under a 30-year arrangement set to end in 2035. The IFC loan supported (i) the rehabilitation of the existing railroad infrastructure, focused mostly on rail track, between Libreville and Franceville and (ii) the acquisition of new rolling stock for the replacement and expansion of transport capacity. According to the facts of the case, Mr. Magni has been the Chief Executive Officer (CEO) of SETRAG since October 2020 and, prior to that, was the Deputy CEO. In September 2020, while Deputy CEO, Mr. Magni paid for an All-Terrain Vehicle (ATV) through a supplier of SETRAG while that supplier was actively seeking payments of its previous invoices and requesting new services from SETRAG. Under these circumstances, Mr. Magni improperly received the ATV, which is a corrupt practice.
Mr. Magni was sanctioned with conditional non-debarment, which means that he remains eligible to participate in Bank Group-financed projects and operations as long as he complies with his obligations under the settlement agreement. Otherwise, the conditional non-debarment will convert to a sanction of debarment with conditional release, and he will become ineligible to participate in Bank Group projects and operations until the conditions for release set out in the settlement agreement are met.
In light of Mr. Magni's cooperation with the Bank Group Integrity Vice Presidency, admission of misconduct, and voluntary corrective actions, including returning the ATV to the SETRAG supplier, the settlement agreement provides for a reduced period of sanction. As a condition for release from sanction under the terms of the settlement agreement, Mr. Magni commits to undertake individual corporate ethics training that demonstrates a commitment to personal integrity and business ethics. He also commits to continue to fully cooperate with INT.
