ADB asks agencies to expedite project execution

The Asian Development Bank (ADB) has asked the government agencies concerned to expedite execution of the ADB-funded projects to ensure release of its committed assistance in time, officials said Thursday.
The Manila-based lender sat with the government's project executing agencies in the city Thursday to review its US$5.67 billion portfolio here.
Presided over by Economic Relations Division (ERD) Secretary Mohammad Mejbahuddin, the review meeting of the ADB-funded projects was attended by the project directors of different ministries, and officials from ERD and ADB Dhaka office.
Meeting sources said ADB has expressed its satisfaction over the progress of most of the development projects. However, the organisation expressed its dissatisfaction over some 'problematic' projects due to delay in their implementation.
"Execution of these problematic projects needs to be expedited. If the government agencies fail to start and implement the projects as per their respective action plans, the Manila-based lender will review its funding decisions," said a senior ERD official.
He also said some projects are struggling with start-up delays and procurement complexities.
ADB has asked the agencies, whose implementation rate is low, to expedite their project execution speed to receive its committed assistance, he added.
An ADB official said the lender has suggested the agencies to utilize the committed resources effectively, so that these can bring good result for the country's infrastructure development and cutting hunger here.
ADB has so far committed $5.67 billion funds for 54 ongoing projects in Bangladesh. The Manila-based lender is the Bangladesh's second largest development partner, as its yearly committed assistance amounted to nearly $900 million in recent years.