মঙ্গলবার, ৩১ জুলাই, ২০১২

ADB, JICA extend loan deal deadline


 Dhaka, July 31 Asian Development Bank (ADB) and Japan International Cooperation Agency (JICA) have extended by a month the deadline for disbursement of the loan they pledged to provide for the Padma bridge project.
An Economic Relations Department (ERD) official preferring anonymity told bdnews24.com that Resident Representatives of these international donor agencies in Bangladesh handed the extension letters at 2:30pm at the ERD office.
"The deadline for the loan agreement (disbursement of money) with ADB and JICA is expiring on Tuesday. ERD had sent letters to both the agencies for extending the deadline. They have extended the deadline separately in response to the letters," said the ERD official who is familiar with the matter.
Of the $ 2.9 billion proposed project, ADB had agreed to provide over $ 610 million while JICA pledged $ 400 million.
Major donor of the project, the World Bank cancelled its loan agreement for $ 1.2 billion on June 29 alleging corruption. The government has been asking the lead agency for reviewing its decision since then.
Prime Minister Sheikh Hasina, however, announced that the bridge will be constructed with own fund, if need be and during her recent UK tour, she urged Bangladeshi expatriates to remit more money to help government build it.
After the World Bank pulled out of Bangladesh's biggest infrastructure project yet, the government sent letters to the three other donors to continue with their funding. The third donor, Islami Development Bank, is supposed to contribute $ 140 million in the project.
Confirming the matter, Finance Minister AMA Muhith had earlier told bdnews24.com that JICA President was approached to hold talks with the World Bank President over funding of the project.
On July 9, the Minister also sat with representatives of different donor countries and agencies for discussing the matter with them. None from World Bank attended the meeting.
As the situation was getting worse, former Communications Minister Abul Hossain finally resigned from his office as Information and Communication technology this month.
Additionally, former Secretary to the Bridge Division Mosharraf Hossain Bhuiyan was sent on leave apparently following the Washington-based global lender's recommendation over taking action against some government officials for their involvement in 'corruption' in the project.
While announcing its decision, the World Bank alleged the government did not take any measure even though it had asked the government to take action regarding the 'corruption'.

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