Padma bridge among schemes to get WB lending boost in 5 years
Wednesday, 28 April 2010
FE Report
The World Bank (WB) has agreed to provide US$ 7 billion to Bangladesh in the next five years to help the country implement a raft of projects including the Padma bridge, finance minister AMA Muhith said Tuesday.
"For 2011 alone, the multilateral lending agency has agreed to lend $2.8 billion, which also includes $1.2 billion for the bridge," said the finance minister while addressing a press briefing at his ministry.
Apart from Padma bridge, Bangladesh will receive $150 million for employment generation schemes, $120 million for private sector development, $150 million for South Zone Power Development, $100 million for enhancing capacities and skill development, $150 million for primary education, $355 million for rivers' course management, $200 million for dairy and $350 million for health and nutrition in the same year.
World Bank is lending $811 million to Bangladesh in 2009-10, the minister said adding that the anti-poverty lender's five-year lending also includes the current fiscal year.
The finance minister was briefing the media on his last week's visit to Washington, where he attended the 2010 Spring Meetings of the World Bank and the International Monetary Fund (IMF).
During the meeting, the WB officials focused on Bangladesh's road and railway infrastructures as well as energy and power issues, the minister said.
"They also put emphasis on good governance, corruption, public procurement act (PPA) and public procurement rules (PPR)," Mr Muhith said.
The minister said: "We have told the World Bank officials that the winner for the Padma bridge project will be finalised by November this year. Hopefully, we will be able to start the construction work by February or March next year."
"But we have to acquire lands and also find lands for settling the affected people, which is very important," he added.
"There might be some delays, but now both the World Bank and we don't see any problem regarding Padma bridge," the minister said.
During the US tour, Mr Muhith also participated in the launch of the Global Agriculture & Food Security Programme (GAFSP) and Dialogue on Sanitation and Water for All arranged by UNICEF and World Bank.
"I have told the audience that the food security remains a priority area for Prime Minister Sheikh Hasina's government that has been taking steps to ensure that."
He said Bangladesh is one of four Asian countries to receive funds from the Global Agriculture and Food Security Program, a new trust fund administered by World Bank.
The three other Asian countries are India, Indonesia and Vietnam, he said.
The fund has been formed as part of G-8 and G-20 initiatives to strengthen food security. Initial donors to the fund include the USA, Canada, Spain, South Korea and the Gates Foundation.
On the Dialogue on Sanitation and Water, Muhith said: "I told them that even if we achieve millennium development goals (MDGs) targets, millions of people will still be out of clean water and proper sanitation coverage."
"To ensure food security, we have to have continued attention to the issue. Otherwise, we will see food crisis like 2008 again in the future."
The minister said many feel that there is no need to invest in agriculture and irrigation. "But we think that there are still scopes to invest in Bangladesh's irrigation, particularly surface irrigation."
"We also need to set up one or two fertiliser plants in the country. Besides, we will have to expand our storage capacity as the capacity has reduced considerably," the finance minister said.
The World Bank (WB) has agreed to provide US$ 7 billion to Bangladesh in the next five years to help the country implement a raft of projects including the Padma bridge, finance minister AMA Muhith said Tuesday.
"For 2011 alone, the multilateral lending agency has agreed to lend $2.8 billion, which also includes $1.2 billion for the bridge," said the finance minister while addressing a press briefing at his ministry.
Apart from Padma bridge, Bangladesh will receive $150 million for employment generation schemes, $120 million for private sector development, $150 million for South Zone Power Development, $100 million for enhancing capacities and skill development, $150 million for primary education, $355 million for rivers' course management, $200 million for dairy and $350 million for health and nutrition in the same year.
World Bank is lending $811 million to Bangladesh in 2009-10, the minister said adding that the anti-poverty lender's five-year lending also includes the current fiscal year.
The finance minister was briefing the media on his last week's visit to Washington, where he attended the 2010 Spring Meetings of the World Bank and the International Monetary Fund (IMF).
During the meeting, the WB officials focused on Bangladesh's road and railway infrastructures as well as energy and power issues, the minister said.
"They also put emphasis on good governance, corruption, public procurement act (PPA) and public procurement rules (PPR)," Mr Muhith said.
The minister said: "We have told the World Bank officials that the winner for the Padma bridge project will be finalised by November this year. Hopefully, we will be able to start the construction work by February or March next year."
"But we have to acquire lands and also find lands for settling the affected people, which is very important," he added.
"There might be some delays, but now both the World Bank and we don't see any problem regarding Padma bridge," the minister said.
During the US tour, Mr Muhith also participated in the launch of the Global Agriculture & Food Security Programme (GAFSP) and Dialogue on Sanitation and Water for All arranged by UNICEF and World Bank.
"I have told the audience that the food security remains a priority area for Prime Minister Sheikh Hasina's government that has been taking steps to ensure that."
He said Bangladesh is one of four Asian countries to receive funds from the Global Agriculture and Food Security Program, a new trust fund administered by World Bank.
The three other Asian countries are India, Indonesia and Vietnam, he said.
The fund has been formed as part of G-8 and G-20 initiatives to strengthen food security. Initial donors to the fund include the USA, Canada, Spain, South Korea and the Gates Foundation.
On the Dialogue on Sanitation and Water, Muhith said: "I told them that even if we achieve millennium development goals (MDGs) targets, millions of people will still be out of clean water and proper sanitation coverage."
"To ensure food security, we have to have continued attention to the issue. Otherwise, we will see food crisis like 2008 again in the future."
The minister said many feel that there is no need to invest in agriculture and irrigation. "But we think that there are still scopes to invest in Bangladesh's irrigation, particularly surface irrigation."
"We also need to set up one or two fertiliser plants in the country. Besides, we will have to expand our storage capacity as the capacity has reduced considerably," the finance minister said.