LGRD and Cooperatives Minister Md Tazul Islam yesterday asked the project directors to maintain timeline and quality while implementing various projects.
“Right plan, minimising cost, maintaining timeline and quality are significant while undertaking projects in the country. Good procurement is also important for us. So, you [project directors] should be careful in this regard,” he said while addressing a seminar at a Dhaka hotel.
The three-day seminar began yesterday as part of ADB’s first “Faster Project Implementation Week 2019” with the theme: “Delivering Faster, Better, Stronger Development Outcomes”.
Tazul said there were various crises, including food and energy deficiency, when Sheikh Hasina took office in 1996. “But now the country has made huge development.”
“ADB is always with us for our development. Bangladesh got better support from the organisation,” he said.
The minister said there are good opportunities to invest in Bangladesh because of its geographical location. “We should take the opportunities to fulfil the dreams of common people and Father of the Nation Bangabandhu Sheikh Mujibur Rahman,” he said.
ADB Country Director for Bangladesh Manmohan Parkash said Bangladesh has made rapid progress in the last 10 years. “With an average growth rate of over 6.5 percent in the last 10 years, Bangladesh is seen as a model for growth. Today, the global economic outlook is challenging. Growth is expected to be moderate across most of developing Asia at 5.7 percent in 2019 and 5.6 percent in 2020.”
“However, South Asia will buck this trend by growing at 6.8 percent in 2019 and 6.9 percent in 2020. Bangladesh stands out by growing at 8.1 percent in 2019 and hopefully 8 percent in 2020, making it the fastest growing economy in Asia Pacific. Today, the per capita income of Bangladesh is USD 1,909,” he said.
Manmohan said Bangladesh has gained significant success in many areas.
Bangladesh is the second largest portfolio in ADB, comprising 54 projects under implementation with a current portfolio of over USD 10 billion, he said.
Manmohan said the ADB supports mainly six sectors in Bangladesh -- energy; transport; water and other urban infrastructure and services; agriculture, natural resources and rural development; finance; and education and health.
“Moving forward, we have lined up significant support to meet the development needs and aspirations of the government and its people. We have programmed USD 5 billion of firm projects and USD 4.9 billion of standby projects in 2020-22 period,” he said.
The ADB country director said faster project implementation is the key to effective and efficient development.