The government on Wednesday agreed with the Asian Development Bank (ADB) to accelerate implementation of ADB-assisted projects in Bangladesh.
The two entities reached the agreement at a tripartite portfolio review meeting (TPRM), where while Economic Relations Division (ERD) Secretary Fatima Yasmin and ADB Country Director Manmohan Parkash were present, among others, said a press release.
The release also said that the two entities would facilitate the projects with some special actions including expediting approval process of large contracts and their payment of mobilization advance, strengthening health safety measures, and providing virtual training to the project staff and beneficiaries.
Procurement, quality of contractors and consultants, financial management, contract management, land acquisition and resettlement, project design, and DPP/TPP approval/revision are common challenges in improving project implementation, it added.
Around 250 senior government officials, project directors, and ADB staff participated in the meeting titled Tripartite Portfolio Review Meeting (TPRM).
“We intend to support the government’s plan for post-pandemic socio-economic recovery by expediting project implementation and quick delivery of development results to the people,” said the ADB Country Director Parkash.
Complimenting support from ERD, line ministries and project directors, he said, “We need a problem-solving attitude, creativity, active learning, renewed commitment and new technologies to overcome the pandemic-induced challenges and accelerate project implementation.”
“We have also agreed on a special set of actions to ensure highest standards of health and safety protocol to mitigate Covid-19 risks in project implementation,” Parkash added.
ADB currently has 49 projects with around $11 billion under sovereign portfolio.
The organization 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.
