The government and Asian Development Bank (ADB) at a Tripartite Portfolio Review Meeting (TPRM) on Wednesday (July 15) agreed on specific and time-bound actions to further accelerate implementation of ADB-assisted projects.
Economic Relations Division (ERD) Secretary Fatima Yasmin and ADB Country Director Manmohan Parkash co-chaired the virtual TPRM.
Around 250 senior government officials, project directors, and ADB staff participated in the first such review meeting in 2020, discussing overall portfolio status and prioritized actions to achieve development results timely.
ADB Country Director Parkash said, ADB intends to support the government’s plan for post-pandemic socio-economic recovery by expediting project implementation and quick delivery of development results to the people.
Complimenting support from ERD, line ministries and project directors, Parkash added, “We have agreed on a special set of actions to ensure highest standards of health and safety protocol to mitigate Covid-19 risks in project implementation.”
The review meeting also highlighted the special actions needed to improve project performance.
Expediting approval process of large contracts, expediting payment of mobilization advance for large contracts, strengthening health safety guidelines implementation, and providing virtual training to the project staff and beneficiaries are some of the actions highlighted in the meeting.
Furthermore, common challenges in improving project implementation include procurement, quality of contractors and consultants, financial management, contract management, land acquisition and resettlement, project design, and approval/revision of Development Project Proforma, Technical Assistance Project Proforma.
ADB focuses its cooperation in Bangladesh on energy; transport; water and urban/municipal infrastructure and services; education; finance; and agriculture, natural resources, and rural development sectors.
ADB’s current portfolio has 49 projects with around $11 billion. ADB’s cumulative lending to Bangladesh stands at around $26 billion.
