WB suspends Padma Bridge funding

The World Bank has suspended funding for Padma Bridge project while a government investigation into the alleged irregularities continues, Finance Minister AMA Muhith said on Monday.

An official press briefing on government action regarding the graft allegation which was scheduled to be held on Monday was cancelled.

Muhith, talking to reporters at his office in the Secretariat, informed that the government will very soon issue an official statement in this regard.

The minister returned home Saturday after a three-week visit to the United States, where he attended annual meetings of the World Bank and the International Monetary Fund.

On Sunday, Muhith said that the WB wants the government to probe alleged irregularities in the appointment of a consultant for the Padma Bridge project.

Quoting Muhith, Reuters reported that the WB had suspended its $1.2 billion credit to Bangladesh for the project until such time as the government resolved the issue of alleged irregularities in the appointment of the consultant for the project.


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