Dhaka, Bangladesh
ADB with new policy for faster project implementatio

ADB with new policy for faster project implementatio

Business Desk Asian Development Bank (ADB) Country Director Manmohan Parkash on Thursday said ADB’s new procurement policy is a paradigm shift towards faster and more effective implementation of ADB-assisted projects in Bangladesh. “The policy will help reduce the overall procurement time and transaction costs, improve quality of procurement, promote advanced and cleaner technologies, encourage deeper focus on project design and planning, and infuse more flexibility and dynamism in the bidding process allowing multiple stage bidding for complex procurement,” said Parkash. The ADB explained its new procurement policy at a ceremony at Bangabandhu International Conference Center in the city. Economic Affairs Advisor to Prime Minister Dr Mashiur Rahman opened the event. “The policy also promotes the greater use of country systems and introduced simpler process for cofinanced projects,” Parkash added. Additional Secretary, ADB Wing, Economic Relations Division, Ministry of Finance Muhammad Alkama Siddiqui and Director General, Central Procurement Technical Unit, Implementation Monitoring and Evaluation Division Md. Faruque Hossain spoke at the ceremony. Effective implementation of the new procurement policy in ADB-funded projects was discussed at the event. About 170 senior government officials, project directors, and ADB staff participated. The new policy, for which guidance notes were issued in 2018, emphasizes two new principles——‘quality’ and ‘value for money’ along with the existing principles of economy, efficiency, fairness, and transparency, ADB said. Currently, ADB has 96 loans and grants for 56 projects with over $10.1 billion under sovereign portfolio in Bangladesh. During January-September 2018, ADB approved loans and grants equivalent to $2.15 billion, and contract awards crossed $1.1 billion and disbursement $700 million. ADB’s portfolio performance in Bangladesh is expected to hit the highest record in 2018 while it has grown by 300 percent since 2008. ADB focuses its cooperation in Bangladesh in six sectors-energy; transport; water and urban/municipal infrastructure and services; education; finance; and agriculture, natural resources, and rural development. ADB’s cumulative lending to Bangladesh stands at around $22 billion for 284 loans, $263 million for 435 technical assistance projects, and $922 million for 41 grants. In another development, The Asian Development Bank (ADB) and the Organization for Economic Co-operation and Development (OECD) signed on Wednesday a new five-year memorandum of understanding (MoU) to deepen collaboration in promoting effective development policies and programs in Asia and the Pacific. The Manila-based bank said the agreement covers the period 2019-2023 and commits the two organizations to work together to promote policy dialogue, results management, knowledge sharing, and mutual learning, including on anti-corruption, tax policy and administration, macroeconomic policy, and data collection and analyses. Joint activities include the ADB-OECD Anti-Corruption Initiative, OECD-Asian Roundtable on Corporate Governance, and the OECD Forum on Tax and Crime, the statement said. ADB said it has also played a key role in the United Nations Development Program (UNDP)-OECD Global Partnership for Effective Development Cooperation. “Over the past five years, we have worked together to address corruption, improve corporate governance, and combat tax crimes in Asia and the Pacific, among many other areas,” said ADB President Takehiko Nakao. “We look forward to building on this strong partnership, taking advantage of ADB’s vast network of policy makers in the region and OECD’s solid experience in upper middle-income and high income countries,” Nakao added. Through the new MoU, the statement said the two organizations will continue ongoing initiatives and undertake other studies and events on topics such as macroeconomic policy, Asia’s medium-term growth, Southeast Asian economic outlook, and statistics for the Asian region. Staff sharing will also be expanded to include long-term secondment, it added. ADB and OECD have a rich history of collaboration dating back to 2005, the statement read.

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