Implementation of ADB-assisted projects reviewed

Dhaka, Tuesday   18 June 2019

Implementation of ADB-assisted projects reviewed

 News Desk daily-bangladesh.com

 Published: 08:58 PM, 27 April 2019  

File Photo

File Photo

The government of Bangladesh and the Asian Development Bank (ADB) on Saturday jointly reviewed the implementation progress of ADB-assisted projects to further improve development results.

Farida Nasreen, Additional Secretary, Economic Relations Division (ERD), and Manmohan Parkash, Country Director, ADB, co-chaired the Tripartite Portfolio Review Meeting (TPRM).

The meeting discussed the status of overall portfolio and prioritized actions to achieve development results timely.

Special emphasis was laid on safeguards, financial management, and gender-related actions, said a press release.

The government’s 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.

“The objectives of the review are further accelerating project implementation through early identification and quick resolution of project issues to help deliver faster development results and better outcomes,” said Country Director Manmohan Parkash.

He said they 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 mobilized in co-financing.

ADB’s current portfolio has 93 loans and grants for 52 projects with over $10 billion under sovereign portfolio.

The 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.

As of December 31, 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.

DailyBangladesh/Prince