Bretton Woods Project - Critical voices on the World Bank and IMF

Jump to main content | Jump to sidebar | Jump to navigation menu

World Bank back in on Padma bridge project?

News|Bretton Woods Project|2 October 2012|update 82|url
print|email |bookmark FacebookTweet thisdel.icio.usDigg!Stumble UponRedditGoogle BookmarksYahoo Buzz

In late September, the World Bank has offerred to re-engage with Bangladesh's Padma bridge project after it suspended its promised $1.2 billion loan last year over allegations of corruption in the consultant selection process. However, despite the mid-September Bank announcement that it would consider funding the project if certain conditions were met, tensions between the Bank and the government continue with prime minister Sheikh Hasina subsequently insisting that she is "adamant to know the real story behind the cancellation of the fund".

Rashed Al Mahmud Titumir, of Bangladeshi NGO Unnayan, argued that "the Bank's job - if it is true to its mission - is to provide [International Development Assistance] credits where it is needed. The bridge is required, so the Bank should fund it, provided that it is open and transparent in everything". Bangladesh country director of the International Growth Centre Dr Wahid-uddin Mahmud challenged the Bank not to disengage from Bangladesh but to "[find] aid modalities that can enable the country to fully utilise the allocations". However, Bangladeshi NGO Equity BD launched a statement against new IMF loans in October that argued "the Bangladeshi people have suffered from paying a high foreign debt for over thirty years. This will be increased if the government takes out new loans for mega-projects like Padma Bridge."

Published: 2 October 2012 , last edited: 16 September 2013

Viewings since posted: 2350

Articles: 3465

Advanced article search
Search newswire and resources

New website launched

You are now browsing an archive version of the Bretton Woods Project's website. This site has not been updated since September 2013, but may be used for reference material as the nbew site is being developed. However we suggest you look at the new website:

Recent briefings & reports

Memorandum to the International Development Committee: Inquiry on the Future of UK Development Cooperation  26 June 2013

The Doing Business review: a test of World Bank leadership 24 June 2013

Climate Investment Funds Monitor 7: April 2013  25 April 2013

Working paper: The private sector and climate change adaptation: International Finance Corporation investments under the Pilot Program for Climate Resilience  24 April 2013

The UK's role in the World Bank and IMF: Department for International Development and HM Treasury  13 March 2013

World Bank on jobs: a "significant departure" or "business as usual"? 13 February 2013

No item found

Latest IFI-related video

The World Bank and human rights abuse in Honduras 7 August, Social Justice Committee of Montreal


Bretton Woods Update, 6 emails/year:
highlights fulltext pdf
Alerts of new web content
Weekly newswire email


Bretton Woods Project on Facebook

home | subscribe | donate | search | help | contact

validate: | XHTML | CSS | RSS

powered by Action Apps | hosted by GreenNet | Credits