The government was likely to scrap a stalled deal for borrowing from the World Bank for building a bridge across the Padma River so that it could proceed to ink a new loan agreement with Malaysia for the prestige project, officials said on Sunday. They said that the government was eager to explore the alternative [...]

Finance minister Abul Maal Abdul Muhith has said no final decision has yet been taken on financing the Padma bridge project, the country’s biggest infrastructure venture till date. “Talks are still going on with the World Bank (WB) regarding the project. But they (WB) have increased the suo motu (loan effectivity) by six more months,” [...]

The World Bank (WB) is unlikely to provide funds for construction of the Padma multipurpose bridge as it has decided not to extend the time of credit agreement. As per the agreement between the government and the WB, the date of credit effectiveness ended on Friday. Economic Relations Division (ERD) sources said the government asked [...]

Finance minister A M A Muhith is spreading confusion over the Padma bridge project, BNP acting secretary-general says. “The World Bank says there has been corruption in the project and sent a letter to the government suspending its fund for it. On the other hand the finance minister is creating a smoke screen by saying [...]