The Tripartite Portfolio Review Meeting (TPRM) between the government and the Asian Development Bank (ADB) laid on Saturday special emphasis on safeguards, financial management and gender-related actions in implementing ADB-assisted projects.
The meeting also discussed the status of overall portfolio and prioritised actions to achieve development results timely. Economic Relations Division (ERD) Additional Secretary Farida Nasreen and ADB Country Director Manmohan Parkash cochaired the TPRM, which was held in Cox's Bazar, said an ADB press release.
During the meeting the government project executing agencies were briefed about, and encouraged to use, the new ADB procurement policy approved in 2017.
Around 250 senior government officials, project directors, and ADB staff participated in the first such review meeting in 2019, said the press release.
"The objectives of the review are further accelerating project implementation through early identification and quick resolution to project issues to help deliver faster development results and better outcomes," it said, quoting the ADB Country Director as saying.
"We are encouraged by the record contract awards and disbursements in 2018, and look forward to achieving even better results in 2019."
"In 2018, ADB committed highest level of support of $4.8 billion to Bangladesh, with eight sovereign projects totaling $2.2 billion in loans and grants, $16.5 million in technical assistance and $2.6 billion mobilised in co-financing," he said.
ADB's current portfolio has 93 loans and grants for 52 projects with over $10 billion under sovereign portfolio, according to the ADB release.
ADB focuses its cooperation in Bangladesh on six sectors-energy; transport; water and urban/municipal infrastructure and services; education; finance; and agriculture, natural resources, and rural development, it said.
As of 31 December 2018, ADB's cumulative lending to Bangladesh stood at around $23 billion for 284 loans, $269 million for 429 technical assistance projects, and $932 million for 44 grants, it added.
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