“The World Bank has taken note of the government's decision of not seeking renewed financing for the Padma bridge,” it said in the statement.
On the other hand, the global lender also said it would not provide the loan for the bridge, the statement added.
The World Bank also encouraged the Anti-Corruption Commission to complete a full and fair investigation of the corruption allegations, the statement said.
On January, 23, Prime Minister Sheikh Hasina said the government will construct the Padma bridge with funds from alternative sources if the World Bank does not give any decision on its financing of the project by January.
“Alternative arrangements are in place…if the World Bank does not finance the project, we will start the construction. Inshallah, the bridge will be built,” Hasina said.
She said the project's work such as construction of approach roads and land acquisition is still going on.
The prime minister said a year has already been lost to the enquiry into the corruption allegations in the project. “But since we have started the work, we must complete it. We will also be able to make up for the lost time.”
Earlier on January 17, Finance Minister AMA Muhith said, “We will not sit idle. We told the World Bank that we want a decision by this month. If not, we will have to look for other options.”
The WB cancelled its $1.2 billion funding in the project on June 29 last year, saying it had proof of a "corruption conspiracy" involving Bangladeshi officials, executives of a Canadian firm and some individuals.
The global lender on September 21 decided to revive the loan after Bangladesh agreed to the bank's terms and conditions.
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