Padma Bridge
$615m ADB fund to get nod today
The Board of Asian Development Bank (ADB) will meet at Manila in the Philippines today for final approval of US $ 615 million assistance for construction of the Padma Bridge.
“There is no obstacle so far in approving and releasing the fund as the ADB is very much keen to finance the project,” an official of ADB said here.
The Padma Bridge is estimated to cost US $ 2.4 billion. Although ADB has pledged US $ 615 million for the project it is likely to increase the amount in future.
After approval from the board, ADB would be the first donor agency or country to release fund for the Padma Bridge. The bank has pledged US $ 615 million for the bridge and for Padma rail link US $ 130 million to be given in 2013.
Work on the US $ 2.4 billion Padma multi-purpose bridge is to begin next month with the target of completing the project by 2013.
The bridge, 6.15km in length, will connect 19 districts of the south-western part of the country with the eastern part, including the capital, and it will be linked with the Asian Highway.
Development partners have agreed to co-finance about US $ 2.2 billion of which the WB will provide US $ 1.2 billion, Asian Development Bank US $ 615 million, Islamic Development Bank US $ 130 million, JICA US $ 300 million and Abudhabi Fund US $ 31.4 million.
Meanwhile, World Bank President Robert Zoellick on Tuesday assured Prime Minister Sheikh Hasina, who was in Saint Petersburg in Russia, that funds pledged by the global lender for constructing the Padma Bridge in Bangladesh would be released on time.
The assurance came when the World Bank chief met her on the sideline of the Tiger Summit in St Petersburg.
For all latest news, follow The Daily Star's Google News channel. 
Related News
Eid joy marred by tragedy
5 July 2022, 18:00 PM
Bangladesh
Sitakunda Blast: Who started the fire?
5 July 2022, 18:00 PM
Accidents & Fires
Railway’s east zone reels from manpower crisis
5 July 2022, 18:00 PM
Transport
Boy found dead in Ctg monastery
5 July 2022, 18:00 PM
Crime & Justice
Barred from rally at Suhrawardy, BNP to hold protest across country tomorrow
13 November 2016, 07:30 AM
Politics
Comments