The Asian Development Bank in a major move has urged Bangladesh to upgrade cross-border connectivity to set up regional link as it proposed support to 11 road and railway projects, officials said. Finance ministry officials said the Manila-based multilateral lender has assured the country of providing US$12 million funds for conducting study and preparing designs of the projects hinting at further support for the development works. "Implementing agencies are now preparing project proposals for 11 proposed schemes. After getting planning ministry's endorsement, an aid deal with the ADB will be signed," a senior Economic Relations Division official told the reporter.

He said we have already completed negotiations with the ADB for their proposed $12 million funds. The ADB has proposed to construct a railway bridge parallel to the existing Jamuna Bridge, a railway track on Dhaka-Padma Bridge-Bhanga-Jessore route, reconstruct Hardinge Railway Bridge at Pakshi, a railway link from Dohazari to Cox's Bazar and from Ramu to Gundum near Myanmar border. Besides, the multilateral donor has also assured Bangladesh of bankrolling feasibility study for constructing Phulchhari-Bahadurabad railway bridge on Jamuna River and renovation of the signalling system between Iswardi and Parbatipur railway line.

The lender has also proposed government to upgrade and construct six road links which will play a key role to establish regional links and boost the cross-border trades. The ADB will bankroll renovation works for Sonamasjid-Rajshahi-Jamuna Bridge road, Burimari-Rangpur road, Tamabil-Sylhet-Dhaka road, Chittagong-Cox's Bazar-Teknaf road for establishing cross-border communications. Besides, the Asia-Pacific lender will support the preparation of the designs for upgrading Phulbari-Banglabandha-Hatikamrul road, Benapole-Jessore-Magura-Doulatdia-Paturia-Darkhar-Akhaura road and Akhaura-Darkhar-Comilla-Chittagong road to facilitate the regional connectivity.

The ERD official said as the government is now laying more focus on establishing regional connectivity, those schemes will help to set up regional transport facilities. Experts said trade volume in the South Asian region is still very negligible compared to that with other regions in the world due to absence of good communication systems. Within the South Asia region, Nepal trades almost 35 per cent of its overall international trade compared to 10 per cent of Sri Lanka and 5 per cent of Bangladesh. The picture is embarrassingly low in case of the two big economies - India and Pakistan - which have a share of less than 3.0 per cent each of their international trade with the regional member countries. A senior planning ministry official said the government's road and railway developers have been preparing the project proposals for the ADB suggested schemes. "After getting those proposals, we will review for giving endorsement," he said.

The Bangladesh government has already discussed with India, Nepal and Bhutan for establishing transport connections for boosting trade among themselves. The Indian government has already confirmed one billion US dollar credit for the Bangladesh government to develop infrastructures for facilitating transit and transshipment to Delhi. Bangladesh has undertaken nearly 20 projects by the Indian credit, most of which are being implemented to upgrade the transportation systems between the two countries. India will be allowed to carry its products through Bangladesh territory to its impoverished north-eastern seven states. Besides, the Chittagong and Mongla sea ports will also be opened for India, Nepal and Bhutan for transporting products.

News: The Financial Express/Bangladesh/12 Feb 2011

Rupali Bank Limited, a state-owned bank will be turned into one of the best banks in the country in near future as the bank will take a number of initiatives to achieve the goal, chairman of the bank Ahmed Al-Kabir said. Mr Kabir said the bank will launch online services in six months as there is no option other than this to survive competition. He directed the corporate chiefs to complete the installation in time. He said customer-friendly environment in all branches of the bank will be ensured to earn faith from the customers so that they become interested to deposit bigger amount.

The chairman expressed the view at 'Conference-2011 of heads of corporate branches' as the chief guest where M Farid Uddin, managing director of the bank was present as the special guest. Enamul Islam Khan, general manager of the bank, presided over the conference. The chairman said personal behaviour of everybody should be decent and clients' needs must be fulfilled in consultation with seniors if required. He laid emphasis on professional training to serve the clients better service and achieve bank's goal.

The chairman said the bank will open ten GM offices within next six months. Jaglul Karim, deputy managing director, Kazi Mohammad Neamot Ullah, general manager, among others, spoke at the conference.

News: The Financial Express/Bangladesh/11 Feb 2011

Ambassador of Republic of Korea Cho Tae Young said Korea and Bangladesh are in the best position to leverage their relationship, as both the countries share the same history of sufferings under colonial regime as well as fight against poverty. He was speaking as the chief guest of the inauguration ceremony of Woori Bank's new office at Suvastu Imam Square at Gulshan-1 in the city Thursday.

"Woori Bank is the largest government-owned bank in South Korea. In Korean language 'woori' means 'we', and I believe with the same history of fight against colonialism and poverty, Woori Bank will be 'our bank' in Bangladesh", the ambassador said.

President of Korea-Bangladesh Chamber of Commerce and Industry (KBCCI) Engineer Kamaluddin said, "The need of a new office for Woori Bank denotes increased clients' trust with the bank."

Kim Kyung Wan, executive vice president of the bank, urged the employees to give their full effort to satisfy the customers.

Woori Bank, the flagship company of Woori Financial Group, was incorporated in 1899 in Republic of Korea. The bank now has two branches in Bangladesh with its footprint in off-shore and corporate banking.

A high official of the bank told the FE that the bank is planning to step into more expanded banking activities. "We started our operation in Bangladesh in 1996 with off-shore banking, and are now planning to start operation in retail, agriculture and small and medium entrepreneurship (SME) sectors aside from corporate banking," the official said.

News: The Financial Express/Bangladesh/11 Feb 2011

State-owned Rupali Bank Ltd arranged a conference for the heads of its corporate branches yesterday.

Anamul Haque, general manager of the bank, presided over the conference.

The conference discussed on various issues related to banking and gave necessary guidelines to the participants.

Ahmed Al-Kabir, chairman, M Farid Uddin, managing director and other high officials of the bank, were also present at the function.

While addressing the function, Ahmed Al-Kabir said they will conduct another three-month campaign programme to increase the image of the bank. He expected all employees will participate in the programme.

He also urged all to perform their duties sincerely and inform the higher authority about the obstacles in discharging professional activities.

He hoped that all of the bank’s branches will come under online systems within the next two or three months.

News: Daily Sun/Bangladesh/11 Feb 2011

Banks will be come under e-procurement system by the next week to ensure transparency in the public purchase process.

In this regard, a meeting was held between Implementation Monitoring and Evaluation Division (IMED) and 16 banks on Thursday at NEC-I conference room to finalise their incorporation in e-procurement system.

Planning minister AK Khandker, IMED secretary Habib Ullah Majumder, CPTU director general Amulya Kumar Debnath, executives of 16 banks attended the meeting.

Habib Ullah Majumder told reporters after the meeting that the government was expected to sign agreements with the 16 banks in next week to bring them under the system.

The IMED secretary said the government will initially introduce the system in four big government agencies, and in all the public sector organisations in phases.

He said necessary equipments have already been provided to the government agencies for smooth functioning of the system.

The IMED secretary informed that the banks would collect bid security, tender fee and performance guarantee from the contractors through the system.

"We will provide training to the bank officials to give them a clear idea about their responsibilities," Majumder said.

The Central Procurement Technical Unit (CPTU)) has been implementing the e-procurement with the help of World Bank.

News: Daily Sun/Bangladesh/11 Feb 2011