ADB awards best-performing projects

The Asian Development Bank yesterday awarded four of its best performing projects or programmes in Bangladesh in a bid to promote efficient implementation.

The two winning projects are: the Sustainable Rural Infrastructure Improvement Project and the City Region Development Project, both executed by the Local Government Engineering Department.

The other two are: the Third Primary Education Development Project executed by the Directorate of Primary Education and the Second Capital Market Development Programme, executed by the Bank and Financial Institutions Division. 

The project/programme teams were selected for efficiency, results delivery, effective project implementation, efforts to empower women, transparency and other criteria, Kazuhiko Higuchi, country director of ADB's Bangladesh Resident Mission, said in a statement.  

The Sustainable Rural Infrastructure Improvement Project, which has $60 million loans from ADB, is helping reduce poverty and raise incomes in 21 districts of the country's northwest and southwest by improving climate-resistant road connectivity and upgrading marketing facilities with specific provision for women.

The project is also enhancing rural people's access to social services such as health and education and economic opportunities.

The City Region Development Project with the $120 million loan from ADB is supporting the country to overhaul urban planning, infrastructure and services in two big city regions.

The project is improving energy-efficient and environment-friendly urban services and strengthening management capacity for Dhaka and Khulna city corporations and adjoining secondary towns.

The Third Primary Education Development Project with $320 million loans from the Manila-based lender is supporting the government's priorities of providing quality primary education to all children.

Together with eight other development partners, ADB is supporting the project to impart efficient, inclusive and equitable primary education and child-friendly learning.

The Second Capital Market Development Programme with the $300 million loan from ADB is supporting the government initiative to meet the long-term financing requirements and thereby address the infrastructure investment gap.

It also supports capital market reforms to improve financial stability by narrowing concentration in the banking system, reducing boom and bust cycles, and mitigating the negative impact that financial market instability has on the real economy.

As of 31 December 2014, ADB's cumulative lending to Bangladesh stood at $16.1 billion for 253 loans, while technical assistance amounted to $242 million for 439 projects. In 2014, ADB approved loans totalling $968 million.  

The best project team recognition programme was initiated in 2001, and has been a regular annual exercise to promote development effectiveness of ADB-assisted projects.