BANGLADESH NEWS
The Asian Development Bank (ADB) and Japan International Cooperation Agency (Jica) on Tuesday extended their deadline for activating loan for the Padma bridge project by another month.
Finance Minister AMA Muhith said, "The deadline has been extended by a month that means the matter has to be resolved by that time."
The country representatives of ADB and Jica met with Iqbal Mahmud, senior secretary to the Economic Relations Division (ERD), and handed over the extension letters to him at his office.
Tuesday was the last day for extending the deal. By doing so, both ADB and Jica have extended their credit deadline for the fourth time since the World Bank’s temporarily suspension in August last year and its final cancellation of the funding recently.
ERD Secretary Iqbal Mahmud declined from making any comment on the issue.
The executives of the two co-financiers also did not make any comment to the media.
The World Bank on June 29 cancelled its $1.2 billion credit for the $2.9 billion project, saying it has proof of corruption conspiracy involving Bangladeshi officials, executives of a Canadian firm and individuals.
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