BANGLADESH

Even as the probable date for signing a memorandum of understanding with Malaysia on the Padma bridge project funding has been finalised, the finance minister would not yet rule out the possibility of funding by the World Bank-led donor agencies.

"The Malaysian government has expressed its interest in constructing the Padma bridge project. The MoU might be signed on Apr 10. But there're no condition as such to cancel agreements with the World Bank and other donor agencies if the MoU is signed with Malaysia," Abul Maal Abdul Muhith said at an interview with on Saturday.

The finance minister said signing of an MoU for something is merely an expression of mutual interest by the parties concerned and there are several steps to follow. "What exactly they want to do regarding the Padma bridge, what we want... all this is yet to be finalised," he said.

"How can we (the government) cancel the agreement with the World Bank now?" he asked.

It has not been finalised yet how much the Malaysian government would contribute to the project, he added.

"MoU is going to be signed with Malaysia, let it happen. We will continue our talks to resolve the deadlock with the World Bank," Muhith said.

"We will take necessary decisions needed at right time."

Communications minister Obaidul Quader is scheduled to go to Malaysia on Sunday night to sign the MoU.

The Malaysian government had earlier said the MoU signing on the Padma bridge with Bangladesh would take place on Feb 21.

The Malaysian cabinet has already approved financing for the project in principle.

The communications minister told newsmen on Saturday, "I'm going to Malaysia on Sunday. MoU is likely to be signed."

He added that it is merely "first phase of the agreement".

In last October, the global lender had suspended a $1.2-billion loan to the government for the $2.9-billion mega project alleging corruption.

Apart from the World Bank, Asian Development Bank (ADB) has pledged $610 million, Japan International Cooperation Agency (JICA) $400 million and Islamic Development Bank $140 million as loan for construction of the bridge.

The Anti Corruption Commission, however, on Jan 2 said its investigation found no tangible evidence of corruption in the Padma project. The anti-graft body also claimed that it did not find any proof of corruption against then communications minister Syed Abul Hossain.

Hossain was shifted to the newly-created information communication technology (ICT) ministry last year amid the allegations.

Last week, the World Bank, after probing the alleged irregularities in the bidding for Bangladesh's biggest infrastructure project, temporarily suspended a unit of the Canadian company SNC-Lavalin from participating in tenders of WB-funded projects.