The government and Asian Development Bank at a tripartite portfolio review meeting on Wednesday agreed on special actions to further accelerate the implementation of ADB-assisted projects.
Economic Relations Division secretary Fatima Yasmin and ADB country director Manmohan Parkash co-chaired the virtual meeting where around 300 senior government officials, project directors, and ADB staff participated, said an ADB press release.
‘Faster project implementation is a key to expedite the post-pandemic socio-economic recovery by delivering enhanced development benefits to people early and quickly,’ Parkash said.
Explaining the measures that are needed to further improve project implementation, he also said that expeditious procurement, engaging good consultants and contractors, effective contract management, properly managing land acquisition and resettlement, sound financial management, prudent project design, and speedy DPP/TPP approval/revision could help achieve better project outcomes.
The special actions for enhancing project performance include accelerating approval and paying mobilization 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.
ADB focuses on 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.
ADB’s cumulative lending to Bangladesh stands at around $36.6 billion in loans and grants, including co-financing.
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