The Asian Development Bank (ADB) on Wednesday called the government for expediting approval process and speeding up implementation for getting its extended support, officials said.
The recommendations were made during a tripartite portfolio review meeting between the ADB, the Economic Relations Division (ERD) and the project-implementing agencies in Dhaka.
All three sides agreed on some special action to further accelerate implementation of the ADB-assisted projects, they said.
ERD secretary Fatima Yasmin and ADB country director Manmohan Parkash co-chaired the virtual meeting.
Around 300 senior government officials, project directors and ADB staff participated in the second such review meeting on Wednesday.
Meeting sources said the ADB was critical of some projects with low execution progress and warned the implementers concerned of reviewing its committed funds if those are not materialised.
The meeting decided to enhance project performance, including accelerating approval and paying mobilisation advance for large contracts, implementing health safety guidelines and offer virtual training to project staff and beneficiaries.
The ADB's current portfolio in Bangladesh is nearly $11 billion for 52 ongoing projects.
Some ADB-aided key projects are Dohazari-Ramu-Cox's Bazar-Ghundum rail line, Dhaka Mass Rapid Transit Development Project Readiness Financing (Line 05), Skills for Employment Investment Programme and SASEC road connectivity project.
The ADB mainly helps Bangladesh in six sectors, including energy, transport, water and urban/municipal infrastructure and services, education, finance and agriculture, natural resources and rural development.
Mr Parkash said, "Faster project implementation is key to expediting the post-pandemic socio-economic recovery by delivering enhanced development benefits to the people early and quickly."
As the economy shows early signs of recovery, he said, concerted efforts and special measures by line ministries and project-executing agencies can help accelerate economic recovery and job creation.
"Expeditious procurement, engaging good consultants and contractors, effective contract management, properly managing land acquisition and resettlement, sound financial management, prudent project design and speedy DPP/TPP approval/revision can help achieve better project outcomes," Mr Parkash cited.
"Today, we've agreed to implement special action to ensure faster delivery of project results by maintaining highest standards of health and safety protocols to avoid COVID-19 risks in project implementation."
The ADB's cumulative lending to Bangladesh stands at an estimated $36.6 billion in loans and grants, including co-financing.
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