PADMA BRIDGE
Concurrence for Padma Bridge from World Bank and other development partners (DPs) will be available this month and tender process can be started after that.
"We have completed all the financing formalities with development partners and now we will start the tender process of main bridge construction after we get the concurrence from the DPs," said communications minister Syed Abul Hossain on Monday.
He was speaking at the $615-million credit agreement signing ceremony with Asian Development Bank (ADB) in the capital.
"After completion of the tender process, it will be sent to cabinet committees on economic affairs and purchase, and for final approval of the prime minister," the minister said.
"We expect to start the construction of bridge by the end of this year and will try to finish the project as soon as possible," he added.
Economic advisor to prime minister Mashiur Rahman said the government would complete the work as soon as possible and in a transparent manner.
"I am appointed as integrity advisor of the Padma bridge project to ensure that it will be done flawlessly," he said.
ADB vice president Xiaoyu Zhao said the main challenge was the execution of the project, which the DPs would like to see happening without any corruption.
Bridge Division secretary Mosharraf Hossain Bhuiyan said land acquisition for the project was over, and the government would try to finish the project within the tenure of the present government.
ADB provided $539 million under ordinary capital resources (OCR) and $76 million under Asian Development Fund (ADF).
ADF credit bears 1 percent interest rate for eight years and 1.5 percent for 16 years, while OCR bears libor plus interest rate for 27 years.
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