Padma Bridge Construction With or Without World Bank: A Review of Current Situation

Padma Bridge Construction: With or without World Bank A review of current situation Introduction: Bangladesh as a developing nation should seriously move to act as a participant in the global economic and financial network for implementation of infrastructure projects. We should increase our focus on long-run development projects where economic returns are higher than commercial returns (such as river training, land acquisition, land administration and resettlement) and commercial financiers may finance commercially viable activities. Padma Bridge is a continuation of the commitment towards such long-run focus associating our development partners. The concept is in a country like Bangladesh, where there is an acute shortage of power and other infrastructural facilities, ensuring transparency, execution support capability and corporate governance can do miracles, in terms of drawing investors focus and ensuring successful implementation of projects. Donor agencies or development partners can also focus on capacity building among civil bureaucracy, for improving their understanding about the project economics and execution with precision. The burning question igniting confusion, consideration or consolidation of various feelings and thoughts is yet to be resolved. Multi-facet variables as monetary, fiscal or even sovereignty or self-esteem of the country are scrutinized to identify the appropriate option.

Background:
Project cost of Padma Bridge is estimated to be US$3.00 billion. Funding for the project is provided by the Asian Development Bank (US$615 m[), the World Bank ($1.5 billion), Japan International Cooperation Agency ($415 m), Islamic Development Bank ($140 m). The government also signed another $14.84 million agreement with the IDB for the implementation of the water-supply and sanitation project in cyclone-prone coastal areas, and Abu Dhabi Development Group ($30 m).Of the