Asian Development Bank (ADB) is emphasising on quality and value for money for ADB funded project to deliver better outcome.
“The new framework encourages better suppliers, contractors, and consultants to work on ADB-financed projects, which will help to deliver project faster, with better quality, and within cost which will help deliver better project outcome,” said Manmohan Parkash, country director of ADB while addressing at inaugural session of “faster project implementation week 2019” organised by ADB at Pan Pacific Sonargaon, Dhaka today.
He said in 2018, Bangladesh achieved a significant milestone-meeting the graduating criteria from a least development country (LDC) to a middle-income country. The country is on track to achieve the Suatainable Development Goals (SDGs).
Bangladesh is the gateway to the east for India, gateway to the west for ASEAN, gateway to the South for China, Bhutan, and Nepal.
In the last five years, ADB’s lending volume to Bangladesh has tripled. In 2018, we committed highest level of support of $4.8 billion to Bangladesh with eight sovereign projects totalling $2.2 billion in loans and grants $16.5 million in technical assistance, and $2.6 billion mobilised in co-financing.
ADB support mainly six sector in Bangladesh-energy, transport, water, and other urban infrastructure and services.
When projects are completed on time, within cost and with proper quality, they deliver best outcomes and that is the theme of theme of this project implementation week “delivering, faster, better, stronger development outcome.”
According to him Bangladesh is the second largest portfolio in ADB, comprsing 54 projects under implementation with a current portfolio of over $10 billion.