Finance Minister AMA Muhith Wednesday said he was optimistic about a favourable decision coming from the World Bank (WB) on the release of its committed fund for the Padma Bridge at the end of the current month.

The decision of WB in disbursing the pledged fund is now pending with its President, Muhith added.

"I am expecting a favourable decision at the end of the current month so far as disbursement of the WB's committed fund is concerned," Muhith told reporters after a meeting of the Cabinet Committee on Purchase at the Cabinet Division Wednesday afternoon.

WB country director Ellen Goldstein, who earlier on the day met with the finance minister, in a statement also said the Bank would give a decision on the Padma Bridge funding within this month.

"We need to have further discussion to say anything positive to the press", she, however, told the FE while she was getting onto her car after meeting with the finance minister at the latter's secretariat office.

"Dialogue with the government will continue and more time will be needed to come to a decision," she added.

Muhith said situation has changed after reshuffling the portfolio of the former Communications Minister Syed Abul Hossain.

"The responsibility of dealing with the Padma Bridge construction is different now. We have changed the minister," Muhith told the reporters.

The finance minister said appointment of the construction consultants for the largest bridge of the country is being delayed for a Canadian investigation now in place against a consulting firm that was short-listed by the government and duly approved by WB.

The construction of Padma Multi-purpose Bridge became uncertain after the Bank had suspended its committed fund in October last year following allegations of corruption.

Muhith said no malpractice and irregularities took place in selecting consulting firms. He said if everything goes smoothly, we will be able to start construction of Padma Bridge from the next dry season, which begins from October-November.

The finance minister said the anti-corruption commission is now at the end of its investigation into alleged corruption charges against the immediate past communications minister. The investigation report is expected to be submitted within a week, he added.

Ms. Goldstein in her statement reiterated the bank's stand on the guarantee of good governance and transparency in the implementation of the mega infrastructure project.

"Good governance and transparency are of paramount importance for the World Bank in implementation of the Padma Bridge. We are still in discussions with the government on whether this can be ensured."

She met the Finance Minister a day after she returned from the WB headquarters.

Both Muhith and Goldstein, however, refrained from commenting on the outcome of the meeting to the press immediately.

The WB country director said the Wednesday's meeting with the Finance Minister was to brief him on her visit to Washington and seek his views on the way forward.

Commenting on the latest development, Economic Relations Division (ERD) Secretary Iqbal Mahmood said that work of the Padma Bridge project was never stopped and it was in progress.

"There is no incident of suspension of the Padma Bridge project. It is continuing and will also remain so," he told the FE.

Communications Minister Obaidul Quader also reiterated his optimism to the FE saying that the Padma Bridge construction will begin within a year.

"Whatever be the fund arrangement, the Padma Bridge construction will begin within a year," he added.

The Daily Financial Express/Bangladesh/ 12th Jan 2012