The World Bank's fund disbursement for different projects increased by 31 percent to $400 million in the first 10 months of current fiscal year, the lender said in a statement yesterday.

The government and the WB yesterday jointly completed a portfolio review of World Bank supported operations in Bangladesh.

The government and the major development partners have jointly taken a new initiative to hold joint review meetings to expedite the implementation of the projects, said an official of the Economic Relations Division (ERD).

The official said a two-day meeting with the project directors of the WB projects ended yesterday.

The WB's current portfolio in Bangladesh consists of 34 active projects with a commitment of $5.8 billion, the highest ever for the country.

The portfolio review found satisfactory progress in many projects and highlighted the need to speed up implementation in others.

According to the statement, the project teams, the ERD and the WB highlighted the need for resolving systemic issues such as staffing vacant positions to speed implementation of the slow moving projects.

The discussion also focused on projects to be closed in a year.

The yearly aggregated disbursement of the World Bank supported projects has seen an upward trend over the last four years, according to the statement.

In FY 12, the World Bank has committed $920 million in six new projects for improving primary education, strengthening the union parishads, providing electricity in villages through solar home systems, facilitating formal employment for poor women, increasing access to safe water in arsenic and salinity inflicted areas and improving agricultural productivity.

“We are encouraged to see results in many areas such as increase in girl's enrollment in school, schooling, reduction in under five child mortality or better disaster preparedness that have made Bangladesh a role model to its neighbours,” said Christine E Kimes, operations advisor to World Bank Bangladesh.

“The government of Bangladesh is fully committed to ensure that external financing is well utilised,” said Arastoo Khan, additional secretary to the ERD.

“The portfolio review of World Bank supported projects with the line ministries and World Bank demonstrates the government's strong commitment to faster and effective implementation of the Annual Development Plan.”

The WB statement said the government and the World Bank teams participating in the portfolio review identified actions to accelerate disbursement in the remaining months of FY 12 and to achieve desired development results.

Improved implementation will be required to further enhance disbursements.

News: The Daily Star/ Bangladesh/ 21-May-2012