WB revives $1.2b loan after govt meets conditions The World Bank has finally decided to revive its $1.2b loan deal for the Padma bridge project as the government has removed the hurdles to end an impasse over the scheme. In a release on Thursday, the global lender said, “The bank has agreed that, upon satisfactory ... Read more
padma bridge
ACC to work with WB, if loan revived
Padma Graft ACC to work with WB, if loan revived Anti-Corruption Commission (ACC) Chairman Ghulam Rahman yesterday said the graft watchdog will work with the World Bank’s “panel of investigative experts” only if the global lender revives its funding for the Padma bridge project. “Scope for working jointly with the WB would be created if ... Read more
Muhith still hopeful
Padma Loan Muhith still hopeful Finance Minister AMA Muhith has expressed hope that the government may reach a settlement with the World Bank on funding the Padma bridge project. “It is possible to reach a solution with the World Bank soon,” Muhith told BBC Bangla Service on Wednesday. Mentioning the steps taken to fulfil the ... Read more
Govt’s action under watch
Padma bridge co-financiers ADB, Jica extend loan deal by a month; wait to see how govt acts on WB’s graft concern; failure to cost future donor funding The ADB and Jica have extended their Padma bridge loan effectuation date by a month with a clear message that during this time the government has to address ... Read more
Remit more to help build Padma bridge
PM urges expatriates Prime Minister Sheikh Hasina has said it will not be difficult for her government to construct Padma bridge if Bangladeshi expatriates living in various countries remit more spontaneously. “We don’t need to collect toll or go for subscriptions … if you remit more and more, it won’t be a tough job for ... Read more
It’s most transparent
Abul on Padma project Communications Minister Syed Abul Hossain yesterday claimed the Padma Bridge is the most transparent project the World Bank ever financed in Bangladesh. “I will finally prove, it [Padma Bridge] is the most transparent project ever executed by any ministry under the World Bank funding,” the minister said while launching new vehicles ... Read more
Padma Bridge in a quagmire
WB freezes on short-listed questionable companies; govt seeks to know the names, move on without those The construction of Padma Bridge will face a long delay if the World Bank does not accept the government’s proposal to start the work soon without involving the firms accused of corruption. The proposal was made when WB Vice-President ... Read more
WB’s green light to Padma Bridge
Project to gather pace finally The World Bank has finally given the go ahead for the Padma bridge construction tender process with five pre-qualified firms, communications ministry officials said. The government sent documents of the five pre-qualified firms for the bridge construction job to the World Bank headquarters in Washington in January. The lead financier ... Read more
WB okays $1.2b for Padma bridge
The World Bank has approved $1.2 billion concessional credit for the Padma Multipurpose Bridge Project. The much-expected approval was given at a board meeting of the bank, held Thursday at its headquarters in Washington DC, says a WB press release. The project, with an estimated cost of $2.9 billion, is expected to unlock the economic
WB set to finalise Padma Bridge loan Feb 24
The World Bank (WB) is set to finalise an initial US $1.2 billion (Tk 84 billion) financing package for the Padma Multipurpose Bridge Project at its board meeting to be held at the Bank’s headquarters in Washington DC on February 24. The Bank has already decided in principle to provide another US $300 million if ... Read more