Dhaka, Bangladesh (BBN)- The government and the World Bank (WB) on Saturday jointly completed a portfolio review of selected WB-supported operations in Bangladesh to further enhance project implementation and disbursement rates.
The WB’s current portfolio in Bangladesh consists of 36 projects with a commitment of $4.5 billion. Out of these 36 projects, the government and the World Bank today reviewed 13 projects which are either nearing completion or identified as slow moving compared to the rest of the portfolio.
The government, the World Bank and the respective project teams discussed key implementation challenges and agreed on concrete actions to improve performance and accelerate disbursements for these projects.
In addition to concrete actions, the joint review decided that in a number of cases readjustment and restructuring of project designs would be required to achieve greater development results.
The government and the WB agreed to work to restructure the following projects – Dhaka Sanitation and Water Supply, Chittagong Sanitation and Water Supply, Private Sector Development Support, Clean Air and Sustainable Environment, Second Notun Jibon, Emergency Cyclone Restoration and Recovery, Disability and Children at Risk, and Skills and Training Enhancement.
The disbursement of the WB financing for Annual Development Program has also witnessed an upward trend in the last four years.
The WB disbursement for the current financial year is $ 437 million (till February 28, 2013). For the similar period, the disbursement in FY 12 was $283.5 million.
“The World Bank is proud to partner with the government of Bangladesh over the last 40 years. We are encouraged to see results in many areas that have transformed the lives of millions of people in the country.” said Christine Kimes, Acting Country Head, World Bank Bangladesh in a press statement.
“The portfolio review of selected projects with the line ministries and World Bank demonstrates the Government’s strong commitment to faster and more effective implementation of the Annual Development Plan,” said Economic Relations Division (ERD) Additional Secretary Arastoo Khan.
BBN/SSR/AD-30Mar13-9:27 pm (BST)