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New WB chief backs Padma decision

Posted by bangladesh

The newly appointed World Bank chief Jim Yong Kim said on Monday the decision to cancel loan for the Bangladesh's Padma bridge project was 'appropriate', according to international media reports.

His comment came on first day on the job when Bangladesh government was preparing to hold discussion with the top management of the Bank to review its decision.

"I think it was appropriate," The Globe and Mail quoted Kim to have said of the decision in his first meeting with journalists.

The World Bank cancelled its pledged $1.2-billion loan for Bangladesh's biggest infrastructure alleging corruption.

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