Amid dispute with Bangladesh over funding the Padma bridge project, the World Bank says the annual total disbursement for the World Bank–supported projects in Bangladesh has seen an upward trend over the past four years.
The World Bank's current portfolio in Bangladesh consists of 34 active projects with a commitment of $5.8 billion, the highest-ever for the country, a media release of the bank said on Sunday, referring to a portfolio review completed jointly with the government.
The total disbursement for all World Bank-financed projects in the current fiscal until Apr 30 was worth $400 million while the disbursement for the same period in the last fiscal was $305 million, it said.
The portfolio review found satisfactory progress in many projects and noted the need to speed up implementation in others, it added.
The release, however, did not say anything about the $2.9-billion Padma bridge project, halted after the global lender suspended $1.2-billion fund alleging corruption.
"We are encouraged to see results in many areas such as increase in girl's enrolment in schools; schooling, reduction in under-five child mortality or better disaster preparedness that have made Bangladesh a role model for its neighbours," it quoted World Bank Bangladesh's Operations Advisor Christine E Kimes as saying.
"The Government of Bangladesh is fully committed to ensure that external financing is well utilised and for the purposes intended," it said quoting Economic Relations Division's Additional Secretary Arastoo Khan.
Denying the World Bank allegations, Communications Minister Obaidul Quader said earlier in the day, "Construction of Padma bridge will begin with our own funding if we cannot find alternative financier."
The World Bank's current portfolio in Bangladesh consists of 34 active projects with a commitment of $5.8 billion, the highest-ever for the country, a media release of the bank said on Sunday, referring to a portfolio review completed jointly with the government.
The total disbursement for all World Bank-financed projects in the current fiscal until Apr 30 was worth $400 million while the disbursement for the same period in the last fiscal was $305 million, it said.
The portfolio review found satisfactory progress in many projects and noted the need to speed up implementation in others, it added.
The release, however, did not say anything about the $2.9-billion Padma bridge project, halted after the global lender suspended $1.2-billion fund alleging corruption.
"We are encouraged to see results in many areas such as increase in girl's enrolment in schools; schooling, reduction in under-five child mortality or better disaster preparedness that have made Bangladesh a role model for its neighbours," it quoted World Bank Bangladesh's Operations Advisor Christine E Kimes as saying.
"The Government of Bangladesh is fully committed to ensure that external financing is well utilised and for the purposes intended," it said quoting Economic Relations Division's Additional Secretary Arastoo Khan.
Denying the World Bank allegations, Communications Minister Obaidul Quader said earlier in the day, "Construction of Padma bridge will begin with our own funding if we cannot find alternative financier."
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