The interim government is keen to accelerate the implementation of foreign-aided projects that have been delayed, Planning Adviser Dr. Wahiduddin Mahmud said on Wednesday.
"A significant amount of foreign aid remains in the pipeline because these projects offer less scope for irregularities, come with conditions, and typically involve strict monitoring," Dr. Wahiduddin said during a press briefing at the NEC conference room in Sher-e-Bangla Nagar, Dhaka, following the first ECNEC meeting under the interim administration.
He noted that many foreign-funded projects have been stuck in the Planning Commission’s backlog, or "freezer," for years. He highlighted that under current circumstances, the World Bank has offered the government $1 billion in budget support by December, contingent on releasing these stalled projects. The Washington-based lender has expressed readiness to extend further support for development initiatives.
However, the adviser acknowledged challenges in processing new projects for approval, as many of the previous government's draft proposals were politically motivated. Planning Commission officials are now scrutinizing these projects more carefully.
During the meeting, the ECNEC decided to approve foreign-aided projects, with ministries and divisions granted the authority to further review and refine them to ensure they are impactful and timely. "Our goal is to maximize the use of foreign aid in the pipeline and launch more development projects with the support of our development partners," Dr. Wahiduddin said.
He also stressed the importance of maintaining a balanced pipeline of short-term and long-term projects while ensuring that quality standards are met.
In response to a question, the adviser assured that the interim government would not allow any misuse of funds, stating, "The people of this country can rest assured that there will be no financial irregularities under our watch." He added that the Ministry of Planning would soon issue a circular outlining the process for project scrutiny, formulation, and implementation.
He criticized the previous administration for approving several large-scale projects with inflated costs, noting that some project components were priced three to four times higher than international standards. "Our government will remain vigilant to prevent a recurrence of such practices," he vowed.
While not all politically motivated projects were flawed, Dr. Wahiduddin admitted, some were driven by ill intentions. He specifically criticized the Bus Rapid Transit (BRT) project in Gazipur, quoting experts who believed it was poorly planned and might need to be demolished in the future.
The adviser also underscored the importance of cautious land acquisition for future projects, as the process has often led to fund wastage, irregularities, and environmental damage, including the cutting down of trees.
The adviser further remarked that while the previous government had long championed duty-free and quota-free access for products, Bangladesh's upcoming LDC graduation would require the country to focus on bilateral trade agreements. "To maintain our competitive edge, we need to enhance skills and pursue more education and technology projects," he concluded.