Finance Minister AMA Muhith Monday said the government will work out a fresh financing structure for construction of the Padma Bridge, but it did not abandon the hope for World Bank fund for the project.

“Finance ministry will reveal this matter to the media after finalising the new work plan for construction of the Padma Bridge”, finance minister said while speaking to journalists after a meeting with President of the International Fund for Agricultural Development (IFAD) Kanayo F Nwanze at the finance division Monday.

Muhith said after exploring possible fund sources for the bridge project, the ministry would plan a new financing structure.

Referring to the WB country director’s interview published in local English daily Sunday, Muhith said, “This interview makes World Bank’s stance clearer on Padma Bridge issue than its earlier statement.”

The government had earlier signed a contract with the World Bank, Asian Development Bank, Japan International Cooperation Agency and Islamic Development Bank to finance the $2.9 billion project.

The Washington-based global lender, the World Bank, was the major financier with a pledge of providing $1.2 billion to the project. On June 29, it cancelled the contract alleging corruption in the project.

The Daily Sun/Bangladesh/ 17th July 2012