Serbia, July 22 -- The European Bank for Reconstruction and Development (EBRD) has debarred Serbian company LOTEX GROUP DOO Beograd-?ukarica (Lotex) and its two subsidiaries for 3 years and 3 months. The settlement was reached in connection with corrupt and fraudulent practices relating to the Serbian Solid Waste Programme, under which regional waste management systems are being constructed in Serbia.An investigation by the EBRD's Office of the Chief Compliance Officer (OCCO) found that, in one tender procedure under the programme, Lotex engaged in a corrupt practice by making an improper payment to a competitor to secure the contract award. The payment was concealed as purported consultancy fees and was not disclosed in Lotex's tender, the...