The government of Bangladesh and the Asian Development Bank (ADB) at a tripartite portfolio review meeting (TPRM) today agreed on specific and time-bound actions to further accelerate implementation of ADB-assisted projects.
Secretary of Economic Relations Division (ERD) Fatima Yasmin and Manmohan Parkash, Country Director of ADB, co-chaired the virtual TPRM.Around 250 senior government officials, project directors, and ADB staff participated in the first such review meeting in 2020, discussing overall portfolio status and prioritized actions to achieve development results timely, said an ADB press release.
“We intend to support the government’s plan for post-pandemic socio-economic recovery by expediting project implementation and quick delivery of development results to the people,” said Country Director Manmohan Parkash.
Complimenting support from ERD, line ministries and project directors, Parkash said, “We need a problem-solving attitude, creativity, active learning, renewed commitment and new technologies to overcome the pandemic-induced challenges and accelerate project implementation.”
The ADB Country Director said, “We have agreed on a special set of actions to ensure highest standards of health and safety protocol to mitigate COVID-19 risks in project implementation.”
The release said the special actions for improving project performance include expediting approval process of large contracts, expediting payment of mobilization 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.ADB’s current portfolio has 49 projects with around $11 billion under sovereign portfolio. ADB focuses its cooperation in Bangladesh in 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 billion.