WB emphasises transparent,graft-free Padma bridge work
Thursday, 28 April 2011
FE Report
The World Bank (WB) Wednesday asked the government to ensure corruption-free spending on the Padma multipurpose bridge. "We want to see the fund to be used for constructing the Padma bridge is spent in a transparent way to benefit the people of Bangladesh," the World Bank managing director Ngozi Okonjo-Iweala told reporters after a meeting with finance minister AMA Muhith at his ministry. She said the WB is going to provide Bangladesh a record amount of $2.2 billion during the current fiscal year. Of the pledged amount, $1.2 billion will be given as concessional loan for the construction of the Padma bridge. The WB's top executive said they would lay maximum emphasis on procurement, corruption-free work and transparency in implementing the Padma bridge project. Responding to a query, she said Bangladesh's macroeconomic condition is good and stable. But inflation has gone up and particularly food prices remain volatile, she added. Finance minister AMA Muhith said the World Bank is providing the highest amount of aid to Bangladesh in a single project, the Padma multipurpose bridge. Construction of Padma bridge is also going to be the country's largest infrastructure development project during the tenure of the grand alliance government, he added. An agreement to this effect would be signed today (Thursday) between the government and the World Bank, Muhith told reporters.
The World Bank (WB) Wednesday asked the government to ensure corruption-free spending on the Padma multipurpose bridge. "We want to see the fund to be used for constructing the Padma bridge is spent in a transparent way to benefit the people of Bangladesh," the World Bank managing director Ngozi Okonjo-Iweala told reporters after a meeting with finance minister AMA Muhith at his ministry. She said the WB is going to provide Bangladesh a record amount of $2.2 billion during the current fiscal year. Of the pledged amount, $1.2 billion will be given as concessional loan for the construction of the Padma bridge. The WB's top executive said they would lay maximum emphasis on procurement, corruption-free work and transparency in implementing the Padma bridge project. Responding to a query, she said Bangladesh's macroeconomic condition is good and stable. But inflation has gone up and particularly food prices remain volatile, she added. Finance minister AMA Muhith said the World Bank is providing the highest amount of aid to Bangladesh in a single project, the Padma multipurpose bridge. Construction of Padma bridge is also going to be the country's largest infrastructure development project during the tenure of the grand alliance government, he added. An agreement to this effect would be signed today (Thursday) between the government and the World Bank, Muhith told reporters.