WB, ADB to give $650m to help build Padma bridge
Tuesday, 24 July 2007
FE Report
The World Bank (WB) and Asian Development Bank (ADB) have agreed in principle to provide the government US$650 million for financing the construction of the proposed Padma Bridge at a meeting Sunday, official sources said.
According to sources, the lending agencies would allocate the funds after the design of the proposed bridge and negotiations with the government are completed.
A senior Economic Relations Division (ERD) official, who attended the meeting Sunday, told the FE that the government had a meeting with the WB, ADB and Japan International Cooperation Agency (JICA) for obtaining confirmation of funds. The WB and ADB assured the government that they would provide $300 million and $350 million respectively to build the bridge, he added.
The official further said that there was no funding assurance from JICA in Sunday's meeting. "But the largest bilateral donor of Bangladesh hinted that it will confirm their funding later," he added
The government also invited the UK's Department for International Development (DFID), representatives from the German and Dutch governments expecting to raise funds for the $1.3 billion Padma Bridge project, the official said.
"But they did not attend the meeting," the official said adding, they might not be interested to finance the project.
Sources in the communications ministry said they would soon start working on the design of the proposed bridge with financial assistance from the ADB. The Manila-based donor will provide US$25 million for the design and affiliated works, the sources said.
The terms of references for appointing a consulting firm to conduct the detailed design of the Padma Bridge has already been prepared, the sources informed.
Meeting source said that the Jamuna Multipurpose Bridge Authority (JMBA) at the meeting with donors on July 22 made a presentation on different survey reports and aspects on the proposed 6.01-kilometre-long Padma Bridge describing the government plan of the construction.
According to the government plan, the bridge will be constructed within the year 2012 to connect south-western region of the country with the capital city Dhaka.
As the government is contemplating to construct the bridge within 2012, it is now aggressively seeking funds from the bilateral and multilateral donors, the communications ministry sources said.
Another senior ERD official said: "As per the donors' plan, they might start releasing the fund in next fiscal 2008-09 for the construction of the bridge. But the government wants to start the construction of the bridge sooner."
According to the feasibility study by the Japan International Cooperation Agency (JICA), the 6.01 kilometre Padma Bridge will be constructed at the Mawa-Janjira point on the river Padma.
The 25-metre wide bridge will contain four lanes with a provision for a railway tracks in its middle position.
The mega bridge project that will connect all the major divisions and cities and is expected to contribute to the national economy by boosting the gross domestic product (GDP) by 1.2 per cent.
The World Bank (WB) and Asian Development Bank (ADB) have agreed in principle to provide the government US$650 million for financing the construction of the proposed Padma Bridge at a meeting Sunday, official sources said.
According to sources, the lending agencies would allocate the funds after the design of the proposed bridge and negotiations with the government are completed.
A senior Economic Relations Division (ERD) official, who attended the meeting Sunday, told the FE that the government had a meeting with the WB, ADB and Japan International Cooperation Agency (JICA) for obtaining confirmation of funds. The WB and ADB assured the government that they would provide $300 million and $350 million respectively to build the bridge, he added.
The official further said that there was no funding assurance from JICA in Sunday's meeting. "But the largest bilateral donor of Bangladesh hinted that it will confirm their funding later," he added
The government also invited the UK's Department for International Development (DFID), representatives from the German and Dutch governments expecting to raise funds for the $1.3 billion Padma Bridge project, the official said.
"But they did not attend the meeting," the official said adding, they might not be interested to finance the project.
Sources in the communications ministry said they would soon start working on the design of the proposed bridge with financial assistance from the ADB. The Manila-based donor will provide US$25 million for the design and affiliated works, the sources said.
The terms of references for appointing a consulting firm to conduct the detailed design of the Padma Bridge has already been prepared, the sources informed.
Meeting source said that the Jamuna Multipurpose Bridge Authority (JMBA) at the meeting with donors on July 22 made a presentation on different survey reports and aspects on the proposed 6.01-kilometre-long Padma Bridge describing the government plan of the construction.
According to the government plan, the bridge will be constructed within the year 2012 to connect south-western region of the country with the capital city Dhaka.
As the government is contemplating to construct the bridge within 2012, it is now aggressively seeking funds from the bilateral and multilateral donors, the communications ministry sources said.
Another senior ERD official said: "As per the donors' plan, they might start releasing the fund in next fiscal 2008-09 for the construction of the bridge. But the government wants to start the construction of the bridge sooner."
According to the feasibility study by the Japan International Cooperation Agency (JICA), the 6.01 kilometre Padma Bridge will be constructed at the Mawa-Janjira point on the river Padma.
The 25-metre wide bridge will contain four lanes with a provision for a railway tracks in its middle position.
The mega bridge project that will connect all the major divisions and cities and is expected to contribute to the national economy by boosting the gross domestic product (GDP) by 1.2 per cent.