The government and Asian Development Bank (ADB) at a virtual meeting yesterday agreed on the specifics and time-bound actions to further accelerate implementation of ADB-assisted projects.
The tripartite portfolio review meeting (TPRM) was co-chaired by Fatima Yasmin, secretary of Economic Relations Division (ERD), and Manmohan Parkash, country director of ADB, says an ADB press release.
The coronavirus pandemic has slowed down the implementation of at least 40 of the 49 projects funded by ADB in Bangladesh.
Around 250 senior government officials, project directors, and ADB staff participated in the review meeting. The participants discussed the overall portfolio status and prioritised actions to achieve timely results.
"We intend to support the government's plans for post-pandemic socio-economic recovery by expediting project implementation and quick delivery of development results to the people," said ADB director Manmohan Parkash.
The plan for improving project performance include accelerating approval process of large contracts, strengthening health safety guidelines implementation, and virtual training to the project staff and beneficiaries.
ADB's current portfolio has 49 projects with around $11 billion under sovereign portfolio. ADB 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, the press release said.