Jica too pulls out of Padma

The Japan International Cooperation Agency has also pulled out of the much-talked about Padma bridge project after the government withdrew its request to the World Bank for funding.
The Jica in a press statement issued from its Dhaka office yesterday said, "As a co-financier, we are unable to continue our commitment under the current framework."
Although the government withdrew its request for funding and the co-financers were pulling out, Finance Minister AMA Muhith yesterday said tender for the bridge project would be floated anytime next month.
The minister said 45 days was needed to complete the tender process and another 15 days for its evaluation, adding that construction of the bridge could start in two months.
Muhith said this while talking to reporters after formally inaugurating the 17th Annual Sports of Customs, Excise and VAT wing of the National Board of Revenue held at Bangladesh Customs, Excise and VAT Training Academy ground in the port city.
"It may need two to three months for mobilisation of construction of the bridge," said the minister in reply to a query.
The minister's comment came two days after the government had formally withdrawn its request to the WB for financing the country's largest ever infrastructure project.
Asked about the government's stance on WB assistance, Muhith said the Economic Relations Department had already released a statement about the project funding.
"We have told the World Bank that their schedule for implementing the Padma bridge doesn't match with ours. Since it is one of our electoral pledges, we have to do some work on it," he said, adding, the government had so far tried to work with the WB so that it could do something on the project within its tenure.
"It seems it is not possible now. So we have to manage it," he observed.
On the co-financing agreement, he said other organisations could come up and the government was also trying to get fund from other donors.
"If we fail to get financial assistance, we will implement the project by ourselves," Muhith said.
"How long can we wait for implementing a project? It could have started in 2011. Now it is 2013. We have waited long enough," he added.
The minister said the government was investigating the graft allegation in the project raised by the WB.
"We are probing it in the way they wanted. As it is not working even after that, now it is time to take our decision," he said, adding that it could be judged after 50 years whether the government's decision was good or bad.
"We must implement the project at any cost. If possible, we will construct it with our own fund or with the help of others," he said.
Mentioning that necessary work centring the project was on, the minister said they had already acquired land for it and rehabilitation of the displaced had already been completed.
JICA STATEMENT
Of the four major donors, the government withdrew the request for WB funding, while Jica and the Asian Development Bank pulled out of the project yesterday.
In the $2.9 billion project the WB's share was $1.2 billion, the ADB's $615 million, while Jica was supposed to provide $450 million.
Jica in its statement says its policy is to require the highest standard of ethics.
Acknowledging the progress of the investigation into the corruption allegations, Jica says it supports the government's firm commitment to fight corruption, and wishes the Anti-Corruption Commission to continue with a full and fair investigation.
The Jica adds the government has informed it of the decision to withdraw the request to the WB for funding. It is regrettable that they could not find the way to go forward under the current financial framework. Jica's effort did not help overcome the difficult situations, although Jica has been intensively consulting with the government and the other co-financiers after WB cancelled the loan last June.
The agency continues to commit to assist development and good governance of the country and to deliver the result to the people through financial and technical cooperation, the statement adds.