The government and Asian Development Bank (ADB) on Wednesday in Dhaka agreed for taking up specific and time-bound action plan to accelerating development project implementations further.
At a tripartite portfolio review meeting (TPRM), co-chaired by Fatima Yasmin, Secretary, Economic Relations Division (ERD), and Manmohan Parkash, Country Director, ADB, took the decision, said ERD and ADB officials.
According to the ERD, some 250 government officials, including project directors of the ADB-funded projects, and ADB staff participated at the meeting.
They discussed the overall portfolio status and prioritised action plans to achieve development results timely.
ADB said the special actions for improving project performance include expediting approval process of large contracts, expediting payment of mobilisation advance for large contracts, strengthening health safety guidelines implementation, and providing virtual training to the project staff and beneficiaries.
Procurement, quality of contractors and consultants, financial management, contract management, land acquisition and resettlement, project design, and DPP/TPP approval/revision are common challenges in improving project implementation, the Manila-based lender added.
ADB’s current portfolio in Bangladesh has 49 projects with a commitment of some $11 billion assistance.
ADB focuses 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 $26.