World Bank to support Bangladesh river project

September 21st, 2012 - 8:54 pm ICT by IANS  

Dhaka, Sep 21 (IANS) The World Bank plans to restart negotiations on a $1.2 billion loan to Bangladesh for building a bridge over the Padma river.

Friday’s announcement comes after the government introduced a slew of measures to address the lender’s concerns about corrupt officials involved in the project.

“The World Bank remains vigilant to any signs of corruption in the Padma bridge project,” the Daily Star quoted a statement from the lender as saying.

The project was expected to spur economic growth.

The bank had cancelled its loan June 29, saying it had proof of a corruption conspiracy involving Bangladeshi officials and contractors involved with the project.

Officials alleged to have been involved in corrupt acts in connection with the project have been put on leave until the probe was completed, the newspaper added.

Related Stories

Tags: , , , , , , , , , , , , , , , , ,

Posted in Business |