The Bangladesh government and Asian Development Bank (ADB) yesterday jointly reviewed the implementation progress of ADB-assisted projects to further improve development results.
Additional Secretary to Economic Relations Division Farida Nasreen and ADB Country Director Manmohan Parkash co-chaired the Tripartite Portfolio Review Meeting (TPRM) in Cox’s Bazar, said an ADB press release.
Some 250 senior government officials, project directors and ADB staff members took part in the TPRM, the first of its kind discussing the status of overall portfolio and prioritising actions to achieve development results timely.
The release said special emphasis was laid on safeguards, financial management and gender-related actions. The government project executing agencies were briefed about and encouraged to use the new ADB procurement policy approved in 2017.
“The objectives of the review are further accelerating project implementation through early identification and quick resolution of project issues to help deliver faster development results and better outcomes,” said Parkash.
“We are encouraged by the record contract awards and disbursements in 2018, and look forward to achieving even better results in 2019,” he added.
He said the ADB committed the highest support of $4.8 billion to Bangladesh in 2018, with eight sovereign projects totalling $2.2 billion in loans and grants, $16.5 million in technical assistance and $2.6 billion in co-financing. The ADB’s current portfolio has 93 loans and grants for 52 projects with over $10 billion under sovereign portfolio.
As of December 31, 2018, the ADB’s cumulative lending to Bangladesh stood at around $23 billion for 284 loans, $269 million for 429 technical assistance projects and $932 million for 44 grants.