Malaysia for funding Padma Bridge

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DHAKA: Malaysia has proposed to provide 230 crore US Dollar for implementation of much-talked-about Padma Bridge project.

Visiting Malaysian delegation made the disclosure at a press conference in city’s Hotel Ruposhi Bangla on Friday afternoon.

The loan is will be interest exempted for 26 years.

On April 10 in 2012, the government of Bangladesh inked a memorandum of understanding (MoU) with Malaysia for construction of Padma Bridge.

Communications Minister of Bangladesh Obaidul Quader and Adviser of Malaysian Prime Minister Dato Seri S Samy Vellu signed the MoU on behalf of their respective sides.

On October 10 in the last year, the World Bank had suspended its funding for the project following charges of corruption in river dredging, appointment of consultants and preliminary selections.

The World Bank earlier had promised $1.2-billion financing for the country’s longest bridge over the mighty river that cuts off country’s southwest from the capital.

 MAR 16, 2013

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