ZCZC
BSS-25
ADB-TRIPARTITE REVIEW
Faster implementation of ADB-aided projects stressed
DHAKA, April 27, 2019 (BSS) – The Government of Bangladesh and the Asian Development Bank (ADB) today jointly reviewed the implementation progress of ADB-assisted projects to further improve development results.
Additional Secretary of the Economic Relations Division (ERD) Farida Nasreen and Country Director of ADB Manmohan Parkash co-chaired the Tripartite Portfolio Review Meeting (TPRM) in Cox’s Bazar, said an ADB press release.
The TPRM discussed the status of overall portfolio and prioritized actions to achieve development results timely.
The release said special emphasis was laid on safeguards, financial management, and gender-related actions. The government project executing agencies were briefed about and encouraged to use the new ADB procurement policy approved in 2017.
Some 250 senior government officials, project directors, and ADB staff members participated in the first such review meeting in 2019.
“The objectives of the review are further accelerating project implementation through early identification and quick resolution of project issues to help deliver faster development results and better outcomes,” said Country Director Manmohan Parkash.
“We are encouraged by the record contract awards and disbursements in 2018, and look forward to achieving even better results in 2019,” he added.
The ADB Country Director said in 2018, ADB committed highest level of support of $4.8 billion to Bangladesh, with eight sovereign projects totaling $2.2 billion in loans and grants, $16.5 million in technical assistance, and $2.6 billion mobilized in cofinancing.
ADB’s current portfolio has 93 loans and grants for 52 projects with over $10 billion under sovereign portfolio. ADB focuses its cooperation in Bangladesh on six sectors — energy; transport; water and urban/municipal infrastructure and services; education; finance; and agriculture, natural resources, and rural development.
As of 31 December 2018, ADB’s cumulative lending to Bangladesh stood at around $23 billion for 284 loans, $269 million for 429 technical assistance projects, and $932 million for 44 grants.
BSS/pr/GM/BR/1845