ADB suggests special measures for faster project execution

Faster project implementation is key to expediting the post-pandemic socio-economic recovery by delivering enhanced development benefits to the people early and quickly, said Asian Development Bank's Country Director Manmohan Parkash.

"As the economy shows early signs of recovery, concerted efforts, and special measures by line ministries and the project executing agencies can help speed up economic recovery and job creation."

He spoke at a tripartite portfolio review meeting yesterday between the Bangladesh government and the Manila-based lender where they agreed on special actions to further accelerate implementation of ADB-assisted projects.

Economic Relations Division Secretary Fatima Yasmin and Parkash co-chaired the meeting, ADB said in a statement.

Around 300 senior government officials, project directors and ADB staff participated in the second such review meeting in 2020.

In the meeting, Parkash also shed light on the measures that are needed to further improve project implementation.

"Expeditious procurement, engaging good consultants and contractors, effective contract management, properly managing land acquisition and resettlement, sound financial management, and prudent project design can help achieve better project outcomes."

"Today, we have agreed to implement special actions to ensure faster delivery of project results by maintaining highest standards of health and safety protocols to avoid Covid-19 risks in project implementation," he added. 

The special actions for enhancing project performance include accelerating approval and paying mobilisation advance for large contracts, implementing health safety guidelines, and offering virtual training opportunities to the project staff and beneficiaries.

ADB's current portfolio has 52 projects with around $11 billion under sovereign portfolio.

The regional development bank focuses its cooperation in Bangladesh in six sectors: energy, transport, water and urban/municipal infrastructure and services, education, finance, and agriculture, natural resources, and rural development.

Its cumulative lending to Bangladesh stands at around $36.6 billion in loans and grants, including co-financing.

Established in 1966, ADB is owned by 68 members, 49 from the region, according to the statement.