Bangladesh and Asian Development Bank (ADB) Wednesday agreed on short- and medium-term roadmaps for 2021-2022 to speed up the implementation of ADB-assisted projects in the post-pandemic phase.
The decision emerged from a tripartite portfolio review meeting where the progress of actions agreed in late 2020 and the readiness status of 2021 pipeline projects were assessed.
Specific actions were agreed for slow-moving projects to use the project money with speed and efficiency.
Economic Relations Division Secretary Fatima Yasmin and ADB Country Director Manmohan Parkash co-chaired the virtual TPRM, ADB said on Wednesday.
"Post pandemic, we are focusing on accelerated project implementation for faster socio-economic recovery," said Manmohan Parkash. "Expediting procurement, accelerating approval, mobilising consultants and contractors early, and implementing health safety guidelines are some of the special actions agreed today."
The ADB country director added: "We also agreed on the need for engaging good consultants and contractors, effective contract management, efficient land acquisition and resettlement, proper implementation of the environmental management plan, and sound financial management, in addition to ensuring proper readiness before processing projects."
ADB's current sovereign portfolio has 52 projects with $11.26 billion; the bank's cumulative lending to Bangladesh stands at around $39 billion in loans and grants, including co-financing.
The regional development bank operates in Bangladesh in six sectors – energy, transport, water and urban or municipal infrastructure and services, education, finance, and agriculture, natural resources, and rural development.