BEARINGPOINT: Making Money In Iraq

Bearingpoint use to be known as KMPG Consulting Inc., the consulting branch of accounting giant KPMG LLP. KPMG LLP. was one of the companies that was entangled in the Enron/Arthur Anderson scandal back in 2002.

    From  SourceWatch:

Contracts

• In July of 2003, BearingPoint was awarded a contract by USAID worth $79.5 million to facilitate Iraq's economic recovery with a two-year option worth a total of $240,162,688.[2][3] Responsibilities in this contract include:

1. Creating Iraq's budget
2. Writing business law
3. Setting up tax collection
4. Laying out trade and customs rules
5. Privatize state-owned enterprises by auctioning them off or issuing Iraqis shares in the enterprises.
6. Reopen banks and jump-start the private sector by making small loans of $100 to $10,000.
7. Wean Iraqis from the U.N. oil-for-food program, the main source of food for 60% of the population.
8. Issue a new currency and set exchange rates.[4]

• In January 2003 BearingPoint won a $3.95 million contract financed by the World Bank to aid the Afghanistan government upgrade its accounting system.[5]
• In March of 2003, USAID awarded BearingPoint a $39.9 million contract to help rebuild the economy in Afghanistan.[6] In November 2005, USAID awarded another contract, this three years and worth $45 million. [7] The overall worth of contracts in Afghanistan could be worth as much as $350 million. [8]
• BearingPoint works with the USAID Banking and Financial Market Reform projects in Serbia and with the National Bank of Serbia to stabilize the financial system. [9]
• In October of 2005, BearingPoint was awarded a five year contract by the Navy's Enterprise Program Management Office worth as much as $58 million to support the strategy, design, development and implementation of the EPMO. [10]
• In October, 2005, BearingPoint won a $124.7 million contract from USAID to pursue economic and financial reform in Egypt. [11]
• BearingPoint has worked with the U.S. Department of Health and Human Services to design and build a decision support system. [12]

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12/11/2006 09:24:10 PM EST
INFOPROD

    BearingPoint, Inc., Lexington Park, Md., is being awarded a $22,254,368 cost-plus-award-fee/firm-fixed-price/cost only modification under previously awarded contract (N00024-04-C-6322) to exercise the FY07 options for systems integration services in support of Release 1.0 of the Navy Converged Enterprise Resource Planning (ERP) System. The Navy ERP Program was established to transform and standardize Navy business processes for key acquisition, financial, and logistics operations. This modification provides for funded labor and associated travel. Work will be performed in Annapolis, Md., and is expected to be completed by September 2007. Contract funds in the amount of $4,494,300, will expire at the end of the current fiscal year. The Naval Sea Systems Command, Washington, D.C., is the contracting activity.

Copyright © 2006 . Infoprod.

   More to follow!

 

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