WB fund cancellation
No problem to construct Padma Bridge: Barkat
DHAKA: Noted economist Professor Dr Abul Barkat Saturday said there would be no problem to construct the much-talked-about Padma Bridge in spite of having of cancellation of the proposed fund by World Bank (WB).
There are many organizations to fund the mega project like Padma Bridge construction, Barkat said immediate after the official announcement of fund cancellation by the WB.
The WB or IMF sets many conditions during providing fund to any country and it affects country’s national economy and sovereignty.
So, it is better not to take fund from them as it influences country’s sovereignty, he further suggested.
Barakat proposed that country’s black money might be used in financing in the mega project.
He added: “We have technology, experts and ability to construct the bridge.”
The World Bank on Friday canceled a $1.2 billion credit for a Padma Bridge project with immediate effect, saying it had “credible evidence” of a high-level corruption conspiracy among officials of Bangladesh government.
“In light of the inadequate response by the government of Bangladesh, the World Bank has decided to cancel its $1.2 billion---credit in support of the Padma multipurpose bridge project, effective immediately,” the World Bank said in a statement.
On October 10 last, the World Bank suspended funding $ 1.2 billion for the Padma Bridge project amid allegations of irregularities with it.
The World Bank earlier had promised to provide the fund to Bangladesh for constructing the 6.15-km Padma Bridge.
Besides, the Asian Development Bank is also committed to providing $ 615 million, while Japan International Cooperation Agency (JICA) $ 400 million and the Islamic Development Bank (IDB) $ 140 million for building the gigantic bridge.
BDST: 1720 HRS, JUN 30, 2012
Edited by:Mohammed Humayun Kabir, Sr Newsroom Editor
M. Mahbub Alam, Asst Output Editor