Dhaka, Bangladesh (BBN)- The World Bank (WB) is going to revive its $1.2 billion loan for the Padma bridge project, official sources said in Dhaka on Thursday.
"We’ve receive the positive signal of the WB early Thursday," an Economic Relations Division (ERD) source told The Daily Star, a local newspaper, seeking anonymity.
The WB’s positive signal came after the government sent the leave letter of prime minister's Economic Affairs Adviser Mashiur Rahman to the global lender’s headquarters in Washington DC Wednesday night, the source added.
The ERD source also hoped that the formal declaration of the global lender's decision is expected to come later in the day.
On June 29 last, the WB, prime financer of the Padma Bridge, had cancelled its $1.2 billion credit for the project, saying it had proof of a corruption conspiracy involving Bangladeshi officials, executives of a Canadian firm and private individuals.
BBN/SSR/AD-20Sept12-11:10 am (BST)
