Dhaka, Bangladesh (BBN)- Asian Development Bank (ADB) has awarded four of its best performing project teams in Bangladesh as part of its efforts to promote efficient project implementation.
Kazuhiko Higuchi, Country Director of the ADB Bangladesh Resident Mission presented the awards for the year 2014 to the winning teams at a ceremony in Dhaka on Sunday. Senior government officials, project directors of ADB-assisted projects, members of the winning project teams, and ADB staff attended the ceremony.
The winning project teams are Sustainable Rural Infrastructure Improvement Project, executed by the Local Government Engineering Department; City Region Development Project also executed by the Local Government Engineering Department; and, Third Primary Education Development Project executed by the Directorate of Primary Education. The Second Capital Market Development Program, executed by the Bank and Financial Institutions Division of the Ministry of Finance, won a special program award for outstanding efforts in 2014.
“The project/program teams were selected for efficiency, results delivery, effective project implementation, efforts to empower women, transparency, and other criteria”, said Country Director Kazuhiko Higuchi.
The best project team recognition program was initiated in 2001, and has been a regular annual exercise by ADB to promote development effectiveness of ADB-assisted projects in Bangladesh.
The Sustainable Rural Infrastructure Improvement Project (with the $60 million loan from ADB) is helping to reduce poverty and raise incomes in 21 districts of northwest and southwest Bangladesh by improving climate-resistant road connectivity, and upgrading marketing facilities with specific provision for women. The project is enhancing rural people’s access to social services, such as health and education, and to economic opportunities.
The City Region Development Project (with the $120 million loan from ADB) is supporting Bangladesh to overhaul urban planning, infrastructure, and services in two big city regions. The project is improving energy-efficient and environment-friendly urban services, and strengthening management capacity for Dhaka and Khulna city corporations and adjoining secondary towns. The project’s outcome will include improved urban environment and infrastructure services based on effective regional and urban planning.
The Third Primary Education Development Project (with the $320 million loan from ADB) is supporting the government‘s priorities of providing quality primary education to all children of Bangladesh. Together with eight other development partners, ADB is supporting the project to impart efficient, inclusive, and equitable primary education and child-friendly learning. The project is helping to improve teaching and learning for all, reduce disparities, promote universal access and participation, decentralize the primary education system, and improve education program planning and management.
The Second Capital Market Development Program (with the $300 million loan from ADB) is supporting the government initiative to meet the long-term financing requirements and thereby address the current infrastructure investment gap in Bangladesh. It also strengthens capital market reforms to improve financial stability by reducing concentration in the banking system, reducing boom and bust cycles, and mitigate the negative impact that financial market instability has on the real economy.
As of 31 December 2014, ADB’s cumulative lending to Bangladesh stood at $16.10 billion for 253 loans, while the technical assistance amounted to $242 million for 439 projects. ADB approved loans, totaling $968 million, in 2014.
ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth and regional integration. Established in 1966, it is owned by 67 members – 48 from the region.
BBN/SSR/AD-15Mar15-4:45 pm (BST)