The Padma Bridge Project is likely to receive an allocation of Tk 81 billion in the budget for the next fiscal (2014-15).
The allocation would include the entire $200 million or Tk.16 billion grant component of the Indian assistance worth US$1.0 billion made available in 2010 for development of infrastructure in Bangladesh, officials said Wednesday.
The likely allocation for the bridge project is Tk 60 billion higher than the allocation made in the Revised Annual Development Programme (RADP) of the current financial year (FY) 2013-14.
In the original ADP for the current FY2013-14, the government had allocated Tk 68.52 billion for the project. Later, the allocation was downsized to Tk 21 billion in the RADP due to non-utilisation of the allocated fund.
In 2012, New Delhi converted $200 million out of the $1.0 billion line of credit (LoC) as grant.
India in August 2010 confirmed $1.0 billion LoC for developing Bangladesh's infrastructure.
After cancellation of the loan by the World Bank and three other development partners, the Asian Development Bank, Japan and the Islamic Development Bank (IDB) for the US$2.9 billion Padma Bridge Project, the government decided to utilise the $200 million Indian grant for the Padma Bridge Project.
"This year the work on the main bridge and river training will start and the project will require a large amount of money. So, we sought Tk 81 billion from the Planning Commission," a communications ministry official said.
The government is now allocating money from its own resources to build the Padma Bridge which will connect the country's impoverished south-western region with its relatively developed eastern region.The Bridges Division said that they have already started building the approach road of the Padma Bridge which involves substantial expenditures.
The construction of the Padma Bridge approach roads at Mawa and Jajira sides are progressing fast. The contracts for the main bridge construction, river training and supervision are likely to be awarded by June this year, the Bridge Division officials said
Moreover, the Padma Bridge Project is among the government's six fast-track projects. So, utmost care needs to be taken so that its progress is not hampered for want of funds, the officials added.
