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Progress of 20 projects satisfactory

WB stops jute sector adjustment credit
Hie World Bank (WB) has expressed satisfaction over the progress in implementing its 20 development projects in the country, reports BSS.
But. the Bank termed as unsatisfactory the two other projects and also identified one project — the jute sector adjustment credit — as "problematic"
This was stated by the World Bank in its "Continuous Monitoring Report on Project Status" which was despatched to different ministries in Dhaka last month.
According to the monitoring report the World Bank has been financing some 23 ongoing projects worth Taka 74,000 million in different sectors including roads, power, gas. agriculture. jute, industry and education.
The report said the implementation of some key and big projects like Jamuna Multipurpose Bridge, fourth population and health project, second road rehabilitation and maintenance. gas infrastructure development and river bank protection was progressing fast behind schedule.
The implementation of the three projects are lagging behind the schedule and the Bank has termed them as unsatisfactory and problematic. They are jute sector adjustment, power distribution (16 towns) and national minor irrigation development.
The World Bank has stopped
disbursement of second tranche of the jute sector adjustment credit because of slow pace of implementation. It has also identified the project as problematic'
The progress on the sale of closed mills and BJC's assests has been poor. It has now become inevitable that the project must be restructured to establish new schedule of implementation." the Bank's monitoring report said adding, "obviously, this will have increased budgetary costs implication because of delayed implementation."
Based on the request of government. the credit closing date was extended up to June 30. 1996.
This extension invisages that government will be able to transfer Hafiz Textiles Mills and privatise 13 more jute mills within the closing date, the report said.
The Bank said the progress in the implementation of Kap-tai rehabilitation and 16 towns distribution components under power distribution project is unsatisfactory although implementation of the Ishurdi sub station component is completed. The closing date of the credit has been extended up to June 30. 1997.
Tlie report pointed out that the recent supervision mission of the Bank commented that the implementation progress of the national minor Irrigation development project is very slow.
The monitoring report, however. lauded the implementation progress of the remaining 20 projects including the Jamuna Multipurpose of the remaining 20 projects including the Jamuna Multipurpose Bridge, second road rehabilitation and maintenance and fourth population and health.
Regarding to the construction of multimillion dollar Jamuna Multipurpose Bridge project the Bank's monitoring report said all the four components of the project were progressing satisfactorily and the physical progress of the work stood at 76 per cent against the revised target of 73 per cent. The bridge is expected to be completed by June 1999.
The report also termed as "highly satisfactory" the implementation performance of the second road rehabilitation and maintenance project. The Bank has given no objection to the award of four contracts for the third year's overlay progress because of satisfactory performance of the project.
About the fourth population and health project the monitoring report said the work of the project is going on in full-swing as the government of Bangladesh has set up a nucleus group to monitor the programme of implementation. If everything goes on schedule, the project is expected to be completed by June 1998, the report added.