Two major lending agencies—Asian Development Bank and Japan International Cooperation Agency—are likely to extend the time for their loans to the stalled Padma Bridge project, officials sources said.
They are expected to follow lead financier, the World Bank, in providing credit for the $2.9 billion bridge project across the river Padma.
The World bank extended the deadline for its $1.2 billion credit to the project on Thursday, the penultimate day of the six-month period.
It has now extended the period of extending the loans for the next six months.
WB had suspended the release of funds due to allegation of corruption since last September.
A senior Economic Relations Division official told New Age on Saturday they were yet to get confirmation from the ADB and JICA on extension of the loan period.
He, however, pointed out that ADB and JICA would follow WB as co-financier of the project in line with an agreement with Bangladesh government.
ADB will provide $615 million and JICA $400 million for building the 6.15-kilometer-long Padma Bridge. |
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