WB pledges $300m more for Padma Bridge

World Bank (WB) President Robert B Zoellick has assured additional funding of $300 million for the construction of the proposed Padma Multipurpose Bridge. Zoellick gave the assurance when Bangladesh Finance Minister AMA Muhith met him at the World Bank Headquarters in Washington on Thursday, said a release of the Bangladesh Mission in Washington. The WB president lauded Bangladesh's achievements in development fields, particularly her performance in economic and social sectors. He mentioned her impressive success in enrolment in schools, women empowerment and in reduction of child mortality. He also mentioned the significant increase of revenue collection, improvement in the management of public finance, strengthening of various institutions and initiative for expanding regional cooperation. Encouraged by the present government's commitment and performance, Zoellick assured that the WB will finance in these areas in future to help sustain the progress already made. The finance minister informed that despite recent global economic meltdown, Bangladesh was successful in avoiding its negative fall-out in its exports due to prudent policies taken by the government, which was further boosted by remittances sent by Bangladeshi expatriates. Initiatives taken by the present government to expand regional cooperation also added impetus in the region's economic cooperation, he said. On ensuring good governance, the finance minister mentioned various legal steps including enactment of Money Laundering Act, Anti-Terrorism Act and formation of National Human Rights Commission. The WB president agreed to undertake a visit to Bangladesh when the minister invited him to visit the country.