Muhith against conflict with WB

DHAKA: Finance Minister AMA Muhith Monday advised the authorities concerned not to involve in “unnecessary conflict” with the World Bank (WB) as it is the largest development partner of the country.

“The WB is one of the largest development partners of the country and we should not create unnecessary problem with it,” he said.

The finance minister came up with the observation in the regular cabinet meeting held at secretariat with Prime Minister Sheikh Hasina in the chair.

The ruling Awali League lawmaker said, “The projects, implemented through foreign aid, are mostly financed by WB. Besides, there are many projects of different ministries are still underway where WB is funding.”

On June 30, the World Bank cancelled a $1.2 billion credit for a Padma bridge project, 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.

Now the government has taken decision to construct the much- talked-about Padma Bridge with own funding.

BDST: 1555 HRS, JUL 16, 2012
Edited by:Abul Kalam Azad, Newsroom Editor / M. Mahbub Alam, Asst Output Editor