Gyp 111
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World Bank President Jim Yong Kim has made it clear that the global lender will not return to the much-talked-about Padma bridge project until certain conditions are met.
I have no intention to pre-empt things, as legal and other processes have to run their course. Until certain conditions are met to heighten oversight in the project and give assurance that a complete and fair criminal investigation is underway, we cannot consider financing the bridge, he said.
Kim was delivering a speech on Anti-corruption Efforts in a Global Environment: A Commitment to Act, at the Centre for Strategic and International Studies at Washington DC on Wednesday.
Last year, the global lending agency cancelled a $1.2-billion credit for the bridge project after the bank found credible evidence of high-level corruption among Bangladeshi government officials.
While funding for the most ambitious infrastructure project of the country is unlikely to resume until the government sorts out the issues with the Bank, Kim said they were already engaged in Bangladesh with a commitment of about $4.3 billion in over 30 projects.
However, according to him, sometimes things go wrong and then they need to stand firm.
This is what happened in the case of the Padma bridge project where insufficient response by the authorities to the evidence of corruption made us terminate a $1.2-billion credit in June last year.
I have no intention to pre-empt things, as legal and other processes have to run their course. Until certain conditions are met to heighten oversight in the project and give assurance that a complete and fair criminal investigation is underway, we cannot consider financing the bridge, he said.
Kim was delivering a speech on Anti-corruption Efforts in a Global Environment: A Commitment to Act, at the Centre for Strategic and International Studies at Washington DC on Wednesday.
Last year, the global lending agency cancelled a $1.2-billion credit for the bridge project after the bank found credible evidence of high-level corruption among Bangladeshi government officials.
While funding for the most ambitious infrastructure project of the country is unlikely to resume until the government sorts out the issues with the Bank, Kim said they were already engaged in Bangladesh with a commitment of about $4.3 billion in over 30 projects.
However, according to him, sometimes things go wrong and then they need to stand firm.
This is what happened in the case of the Padma bridge project where insufficient response by the authorities to the evidence of corruption made us terminate a $1.2-billion credit in June last year.
