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Padma Bridge

US to talk to WB over funding

Staff Correspondent
The US will play a helpful role in the construction of proposed Padma bridge by conveying its importance to the World Bank (WB) management soon, said US Ambassador in Dhaka Dan W Mozena yesterday.
“We will convey the usefulness of Padma bridge to the World Bank management soon,” Mozena told reporters after a meeting with Finance Minister AMA Muhith at the latter's secretariat office in the city.
He said Bangladesh should talk with the WB, the Asian Development Bank (ADB) and Japan to find a way forward to construct the bridge.
“Bangladesh government, World Bank, ADB and Japan should work together so that the bridge can be constructed because it is needed for the country,” Mozenasaid.
The Padma bridge will facilitate trade with India and Nepal. "The bridge is needed for linking the country with Mongla Port and Benapole Port," the US envoy added.
Referring to a recent gathering of some diplomats, Muhith after the meeting mentioned that India, Japan and the UK have already recommended the WB for financing the mega
bridge project.
The minister reiterated that the government would take decision regarding the project within the next month.
“We have also considered Malaysia's proposal as an alternative source of fund for the Padma bridge,” he said.
The government has recently held talks separately with the WB, the ADB, Japan and the IDB about financing the project, he added.
"I have already received a reply from the WB regarding the Padma bridge project,” the minister said without elabo-ratingdetailsoftheletter.
TICFA SOON
The US ambassador said both Bangladesh and the US were very close in signing the Trade and Investment
Cooperation Framework Agreement (Ticfa).
“TheTicfa is not agreed yet. But we are almost at the final stage for signing the Ticfa. We are waiting for amending a few words in the agreement,” Mozena said adding that he will fly to the US today to convey the latest situation of the Ticfa agreement to the Obama administration.
Bangladesh government has already prepared the Ticfa agreement and the draft might be finalised after getting nod of Prime Minister Sheikh Hasina.
The Ticfa promises to protect investments, remove obstacles in bilateral trade and create a forum for discussing the issues related to trade and investment.