Padma Bridge: A potent symbol of economic progress 

The dream of long-cherished Padma multipurpose bridge is turning into reality, to our immense gratification. The 6.15 km long bridge is expected to be open for traffic on June 25, opening up a new era in the country’s communication network. Full swing last hour works are underway for vehicular movement through the bridge. Rail tracks on the bridge are expected to welcome trains soon. It bears repeating that the bridge will change the economic fate of the people living in the least-developed southwestern part of the country, and would stand Bangladesh in good stead in respect of regional connectivity.

The construction work of the bridge started in December 2015 and the first span was installed on September 30, 2017. Oddly enough, the World Bank pulled out as lead financier of Padma Bridge with a 1.2 billion pledge, on June 29, 2012, alleging ‘credible evidence’ of a high-level corruption conspiracy among Bangladeshi officials to misuse money earmarked for the bridge. ADB and JICA also pulled out. 

The southwestern part of the country, known as the least developed region, gradually will turn into an industrial hub centering on the Padma Bridge. So, it can be said that the bridge brings huge economic prospects in the days to come. The bridge would increase the national GDP growth rate by 1.2 per cent and the gross product in the southwest region by 35 per cent. It will create employment opportunities for 1.2 per cent of the total labour force. Poverty reduction (national level) will be 1.9 per cent per year instead of 1.1 percent. For the southwest region, the expected reduction rate would be 2 percent per year instead of 1.0 percent (World Bank Study). JICA’s study suggests that a 10 per cent decrease in travel time to and from Dhaka will lead to a 5.5 percent increase in district economic output.

The Padma Bridge constructed at a cost of Taka 301.93 billion is the largest development project in the country. The 6.15 km long bridge will be directly connected to other districts of the country including 21 districts in the south. China Major Bridge Engineering Corporation Limited did the main work of the Padma Bridge but there are many more companies and institutions associated with it.

The benefit of the project would be equivalent to an annual increase of at least 1.7 percent of the southwest region GDP in value and 0.56 percent of annual increase of national GDP, according to the World Bank project appraisal document in 2011. It also said the poverty reduction rate would increase by 1.0 percent in the southwest region and by 0.8 percent at the national level. One simulated effect of the bridge derived by use of the national SAM (Social Accounting Matrix) was a 10.2 per cent increase in total employment over the base level.

The government has already undertaken a project titled” Padma Bridge Rail Link Project (PBRLP)” to connect the capital city-Dhaka and Jashore with a 169 km rail line. It connects four districts –Munshiganj, Shariatpur, Madaripur, and Narail.  The link is a part of the Trans-Asian Railway Network.

Economic and Social Commission for Asia and the Pacific (ESCAP)- a regional office of UN- agreed to incorporate the Dhaka-Bhanga-Jashore route as part of the trans-Asian Railway Network.

The Trans-Asian Railway (TAR) Network agreement was signed on November 10, 2006, by seventeen Asian nations as part of a UNESCAP’s effort to build a transcontinental railway network between Europe and Pacific ports in China. In May 2007,  the then caretaker government of Bangladesh  approved the proposal to join the Trans-Asian Railway Network aiming to expand railway network up to Europe through Asia 

(1) A northern corridor connecting the rail networks of China, Kazakhstan, Mongolia, the Russian Federation, and the Korean Peninsula.

(2) A southern corridor connecting Thailand and the southern Chinese province of Yunnan with Turkey through Myanmar, Bangladesh, India, Pakistan, the Islamic Republic of Iran and Sri Lanka.

(3) A sub-regional network covering the ASEAN and Indo-China sub-regions.

(4) A north-south corridor linking Northern Europe to the Persian Gulf through the Russian Federation, Central Asia, and the Caucasus region.

The proposed three routes to be passed through Bangladesh are:

Route 1: Gede (West Bengal, India) Darshana (Chuadanga, Bangladesh)-Ishwardy-Jamuna Bridge-Joydevepur-Akhaura-Chittagong-Dohazari-Gundhum-Myanmar

Route 2: Singabad (West Bengal)-Rajshahi (Bangladesh)-Iswardy-Jamuna Bridge-Jodevpur-Akhaura-Chittagong-Dohazari-Gundum-Myanmar

Route 3 : Radikkapur (West Bengal)-Dinajpur-Ishwardy-Jamuna Bridge-Joydevpur-Akhaura-Chattogram-Dohazari-Gundhum- Myanmar.

The bridge would connect the impoverished southwestern region with the economically developed Dhaka and Chattogram. Asian Development Bank in its study said that as many as 24,000 transports would ply on the bridge at the beginning. This number will surpass 67,000 in 2050.  By 2030, around 50 million people will be connected through employment.

Bangladesh is also ahead of South Asian and other least developed countries (LDCs) in several social indicators. This has widely helped Bangladesh to qualify for graduation from the LDC category in 2018 by fulfilling all three criteria set by the United Nations.

In 2015, Bangladesh became a lower middle-income country from a low-income country as per the World Bank’s classification of countries. The country made better performance in achieving the Millennium Development Goals (MDGs) between 2000-2015. Now Bangladesh aspires to become a developed country by 2041. Since 2015, Bangladesh has been working towards fulfilling the Sustainable Development Goals (SDGs) by 2030. 

Attaining desired economic growth is possible after the double-decker Padma Bridge opens for traffic, no doubt. Regional trade and commerce among India-Bangladesh-Nepal-Bhutan would be increased to a great extent. The inflow and outflow of goods and services through the country’s two biggest sea ports - Chattogram and Mongla will be boosted. Additionally, there is a possibility of growing presence of the holidaymakers in the Sundarbans- the world’s largest mangrove forest-coming from home and abroad.  The Padma Bridge came as a blessing for the nation. The present government deserves appreciation from all walks of people for building the bridge with funds arranged domestically. To conclude, we believe that the industrial revolution across the country begins with the inauguration of the multipurpose Padma Bridge.

The writer is an economic affairs analyst. He can be contacted at: [email protected]