• Sunday, Dec 06, 2020
  • Last Update : 02:57 am

Meeting suggests measures to accelerate ADB-assisted project implementation

  • Published at 04:04 pm October 21st, 2020
Rajib Dhar/Mehedi Hasan

As the economy shows early signs of recovery, concerted efforts, and special measures by line ministries and the project executing agencies can help speed up economic recovery and job creation, says the ADB

The government and the Asian Development Bank (ADB), at a tripartite portfolio review meeting (TPRM) on Wednesday agreed on special actions to further accelerate implementation of ADB-assisted projects.

Fatima Yasmin, secretary, Economic Relations Division (ERD), and Manmohan Parkash, country director, ADB, co-chaired the virtual TPRM.

Around 300 senior government officials, project directors, and ADB staff participated in the second such review meeting in 2020.

Faster project implementation is a key to expedite the post-pandemic, socioeconomic recovery by delivering enhanced development benefits to the people early and quickly, said ADB Country Director Manmohan Parkash.

As the economy shows early signs of recovery, concerted efforts, and special measures by line ministries and the project executing agencies can help speed up economic recovery and job creation, he further remarked.

Explaining the measures that are needed to further improve project implementation, Parkash said: “Expeditious procurement, engaging good consultants and contractors, effective contract management, properly managing land acquisition and resettlement, sound financial management, prudent project design, and speedy DPP/TPP approval/revision can help achieve better project outcomes.”

"Today, we have agreed to implement special actions to ensure faster delivery of project results by maintaining highest standards of health and safety protocols to avoid Covid-19 risks in project implementation, Parkash added.

The special actions for enhancing project performance include accelerating approval and paying mobilization advance for large contracts, implementing health safety guidelines, and offering virtual training opportunities to the project staff and beneficiaries.

ADB’s current portfolio has 52 projects with around $11 billion under sovereign portfolio.

It focuses its cooperation in Bangladesh in six sectors—energy; transport; water and urban/municipal infrastructure and services; education; finance; and agriculture, natural resources, and rural development.

ADB’s cumulative lending to Bangladesh stands at around $36.6 billion in loans and grants, including co-financing.

blogger sharing button blogger
buffer sharing button buffer
diaspora sharing button diaspora
digg sharing button digg
douban sharing button douban
email sharing button email
evernote sharing button evernote
flipboard sharing button flipboard
pocket sharing button getpocket
github sharing button github
gmail sharing button gmail
googlebookmarks sharing button googlebookmarks
hackernews sharing button hackernews
instapaper sharing button instapaper
line sharing button line
linkedin sharing button linkedin
livejournal sharing button livejournal
mailru sharing button mailru
medium sharing button medium
meneame sharing button meneame
messenger sharing button messenger
odnoklassniki sharing button odnoklassniki
pinterest sharing button pinterest
print sharing button print
qzone sharing button qzone
reddit sharing button reddit
refind sharing button refind
renren sharing button renren
skype sharing button skype
snapchat sharing button snapchat
surfingbird sharing button surfingbird
telegram sharing button telegram
tumblr sharing button tumblr
twitter sharing button twitter
vk sharing button vk
wechat sharing button wechat
weibo sharing button weibo
whatsapp sharing button whatsapp
wordpress sharing button wordpress
xing sharing button xing
yahoomail sharing button yahoomail