ADB to accelerate project implementation for faster socio-economic recovery

At a tripartite portfolio review meeting (TPRM) today, the government of Bangladesh and the Asian Development Bank (ADB) agreed on an action plan to accelerate the implementation of ADB-assisted projects in 2021-2022 in order to promote speedier socio-economic recovery.

In his introductory remarks, Kenichi Yokoyama, Director General of the Asian Development Bank’s South Asia Department, praised policies and programs for a quick socioeconomic recovery from the COVID-19 pandemic.

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According to a press release, he also advised establishing a stronger project pipeline, assuring higher project readiness, and improving implementation discipline for better portfolio performance to aid Bangladesh’s ongoing socioeconomic recovery.

The virtual TPRM was co-chaired by Fatima Yasmin, Secretary, Economic Relations Division (ERD), and Manmohan Parkash, ADB Country Director for Bangladesh.

In 2021, some 250 senior government officials, project directors, and ADB staff attended the second such review meeting, which focused on resolving project implementation challenges and creating measures to accelerate project execution.

“Our reoriented program goals for advancing the current socioeconomic recovery process reflect our increased focus on expediting project implementation,” stated Country Director Manmohan Parkash.

“To boost contract award and fund disbursement, we are stressing speedier and compliant procurement of products and services,” he added.

Parkash praised the government’s efforts to create jobs and increase public investment, but emphasized the need for more measures to combat the negative effects of the ongoing COVID-19 pandemic.

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