Terming World Bank's decision to cancel fund for the Padma bridge project 'unexpected' and 'disgraceful', Finance Minister AMA Muhith has urged the global lender to review its decision.
He came up with the government's official reaction to the decision at a press conference on Sunday, a day after WB announced its pullout from the project.
"What the World Bank has said in its statement (announcing its pullout decision) is 'unexpected' and 'disgraceful'," said Muhith.
"I think the World Bank should review its decision."
In a statement on Friday, the World Bank (WB) alleged that the government did not take any step despite being provided with 'credible evidence' to probe allegations of corruption in the bridge project.
Muhith said talks were going on with the Bank even though it had decided to withdraw from the project.
"The Executive Director of the project is holding talks with the World Bank. We will wait for their (WB) review of the decision," Muhith said.
"I will deliver a detailed speech on the issue in parliament tomorrow (on Monday)," he added.
The Finance Minister said he decided to address the press conference even before speaking in parliament since media had been running reports containing half-truths since the announcement of the Bank's decision.
"We made a combined effort to prevent any corruption in the project. So, the World Bank's claim is not acceptable and not correct," he said after presenting an account of the steps the government had initiated over the matter.
According to Muhith, the Bank's interest in funding the bridge project went on a slope after a Chinese Construction Company, which the WB was favouring, got disqualified during the selection of pre-qualified contractors following forgery by its Bengali representative.
"After that, World Bank approved selection of five pre-qualified contractors. But we think they (WB) started delaying the project...," Muhith said.
Later, in October last year, the Finance Minister suggested the global lender to separate the processes of investigation and project implementation, as implementation of the project had never been halted ever since the World Bank came up with the demand for investigation into seven specific corruption instances in the project. But it cut no ice with the global lending agency.
He said changes in the project leadership and the investigation Anti-Corruption Commission conducted into the charges also failed to satisfy the Bank. The government continued to hold talks, but the World Bank did not help out ACC with information.
"We did not intervene in these matters as they fall within the purview of the Commission," said Muhith.
A team of WB representatives was invited in June for holding talks with the Economic Affairs Division and ACC. Several letters were exchanged between the Bank and the government during the month over separating investigation from the process of project implementation, followed by another visit of another WB team at the end of the month.
During this visit, WB demanded the government to reach consensus on three points including signing of a Memorandum of Understanding with it and spelling out a Terms of Reference for involving a foreign adviser in ACC's activities.
Muhith said the government accepted even those conditions with some minor practical changes to strike a chord with WB, thus ruling out possibilities of corruption from the project.
"It is unexpected and mysterious why the World Bank has cancelled its contract and issued such a disgraceful note," he wondered.
The Finance Minister also provided the media letters exchanged between the government and WB saying they refrained from getting those published as the investigation was underway.
According to him, WB has so far funded 251 projects worth $16.8 billion since the country's Independence. Of the amount taken as loan, $14.5 billion are still unpaid.
He came up with the government's official reaction to the decision at a press conference on Sunday, a day after WB announced its pullout from the project.
"What the World Bank has said in its statement (announcing its pullout decision) is 'unexpected' and 'disgraceful'," said Muhith.
"I think the World Bank should review its decision."
In a statement on Friday, the World Bank (WB) alleged that the government did not take any step despite being provided with 'credible evidence' to probe allegations of corruption in the bridge project.
Muhith said talks were going on with the Bank even though it had decided to withdraw from the project.
"The Executive Director of the project is holding talks with the World Bank. We will wait for their (WB) review of the decision," Muhith said.
"I will deliver a detailed speech on the issue in parliament tomorrow (on Monday)," he added.
The Finance Minister said he decided to address the press conference even before speaking in parliament since media had been running reports containing half-truths since the announcement of the Bank's decision.
"We made a combined effort to prevent any corruption in the project. So, the World Bank's claim is not acceptable and not correct," he said after presenting an account of the steps the government had initiated over the matter.
According to Muhith, the Bank's interest in funding the bridge project went on a slope after a Chinese Construction Company, which the WB was favouring, got disqualified during the selection of pre-qualified contractors following forgery by its Bengali representative.
"After that, World Bank approved selection of five pre-qualified contractors. But we think they (WB) started delaying the project...," Muhith said.
Later, in October last year, the Finance Minister suggested the global lender to separate the processes of investigation and project implementation, as implementation of the project had never been halted ever since the World Bank came up with the demand for investigation into seven specific corruption instances in the project. But it cut no ice with the global lending agency.
He said changes in the project leadership and the investigation Anti-Corruption Commission conducted into the charges also failed to satisfy the Bank. The government continued to hold talks, but the World Bank did not help out ACC with information.
"We did not intervene in these matters as they fall within the purview of the Commission," said Muhith.
A team of WB representatives was invited in June for holding talks with the Economic Affairs Division and ACC. Several letters were exchanged between the Bank and the government during the month over separating investigation from the process of project implementation, followed by another visit of another WB team at the end of the month.
During this visit, WB demanded the government to reach consensus on three points including signing of a Memorandum of Understanding with it and spelling out a Terms of Reference for involving a foreign adviser in ACC's activities.
Muhith said the government accepted even those conditions with some minor practical changes to strike a chord with WB, thus ruling out possibilities of corruption from the project.
"It is unexpected and mysterious why the World Bank has cancelled its contract and issued such a disgraceful note," he wondered.
The Finance Minister also provided the media letters exchanged between the government and WB saying they refrained from getting those published as the investigation was underway.
According to him, WB has so far funded 251 projects worth $16.8 billion since the country's Independence. Of the amount taken as loan, $14.5 billion are still unpaid.
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