Ministries, divisions want big allocations from foreign fund in ADP
Skip to main content
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
The Business Standard

Wednesday
February 08, 2023

Sign In
Subscribe
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
WEDNESDAY, FEBRUARY 08, 2023
Ministries, divisions want big allocations from foreign fund in ADP

Economy

Saifuddin Saif
28 April, 2020, 12:05 pm
Last modified: 28 April, 2020, 05:06 pm

Related News

  • Ministries, divisions with highest allocation lag in ADP implementation
  • 63% housing, community dev budget goes to three cities
  • This is how project aid utilisation is gearing up
  • ADP spending jumps in May, sparking fears over quality
  • Lower implementation mars ADP allocation

Ministries, divisions want big allocations from foreign fund in ADP

Foreign-funded projects have seen slow implementation since January due to worldwide coronavirus pandemic

Saifuddin Saif
28 April, 2020, 12:05 pm
Last modified: 28 April, 2020, 05:06 pm
Ministries, divisions want big allocations from foreign fund in ADP

The implementation of foreign-funded projects has slowed since January due to the absence of a large number of Chinese staff and other foreign consultants as a result of the global Covid-19 pandemic.

Work on most projects has stopped since late March when the government announced a countrywide shutdown to contain the spread of the deadly virus.

In this situation, the implementation agencies– different ministries and divisions – want to spend a large amount of foreign funds through the Annual Development Programme (ADP) in fiscal year 2020-21.

An official of the Economic Relations Division said upon the demand by the ministries and the divisions, the ERD has proposed an allocation of Tk70, 502 crore from the foreign fund in the upcoming ADP.

The official further said the ERD had already sent targets of allocation to the Finance Division and the Planning Commission for their consideration.

The proposal will be finalised in the National Economic Council with Prime Minister Sheikh Hasina in the chair.

Meanwhile, although the government had a target of using Tk71,800crore foreign aid in fiscal year 2019-20, the amount has fallen to Tk62,000 crore in the revised ADP.

The volume of foreign aid has dropped by Tk9,800crore, or 13.65 percent, in the revised ADP due to the slow project implementation.

According to the Implementation Monitoring and Evaluation Division (IMED) report, the ministries and divisions have spent Tk25,881 crore of foreign assistance during the July-February period of the current fiscal year.

IMED Secretary Abul Mansur Md Faizullah told The Business Standard that work on most development projects – including mega ones – have remained stopped since March.

The countrywide shutdown has dealt quite a blow to big projects that had been maintaining a trend of slow implementation since their inceptions at different times.

Planning Minister MA Mannan said once the Covid-19 crisis is over the government will work in double shift so that the economic wheels can move faster through a speeding up of the implementation of the projects.  

The government wants to inaugurate the Metrorail (Dhaka Mass Rapid Transit-MRT-6) from Uttara to Motijheel by December 16, 2021, the year marking the golden jubilee of Bangladesh's emergence as an independent nation.

But it may not be possible amid the global coronavirus crisis, said officials of the Dhaka Mass Transit Company Ltd. Now they want to keep the allocation so that they can speed up the work once the shutdown is over.

The Dohazari-Cox's Bazar-Gundum rail line construction and the China-funded Padma rail link are the two fast track projects under the railway authorities that have been affected by the global pandemic.

Top News

Economic Relation Divisionsaid (ERD) / Annual Development Programme (ADP) / Foreign fund

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • RMG turns to India from China to get cheaper man-made yarn
    RMG turns to India from China to get cheaper man-made yarn
  • Country's revenue earnings were Tk40,000cr more in last fiscal: Finance Minister
    Country's revenue earnings were Tk40,000cr more in last fiscal: Finance Minister
  • The world's richest person is trying to head off a succession battle
    The world's richest person is trying to head off a succession battle

MOST VIEWED

  • The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. REUTERS/Yuri Gripas/File Photo
    IMF approves $4.7 billion loan for Bangladesh, calls for ambitious reforms
  • Will reform pledges to IMF work this time?
    Will reform pledges to IMF work this time?
  • Despite downturn 3 dozen listed firms plan Tk7,500cr investment
    Despite downturn 3 dozen listed firms plan Tk7,500cr investment
  • International Monetary Fund logo : AP via UNB
    IMF sets time-bound reform agenda as it releases first tranche of loan
  • NBFIs can no longer borrow from call money market: Cenbank
    NBFIs can no longer borrow from call money market: Cenbank
  • Song of the farmers as boro begins
    Song of the farmers as boro begins

Related News

  • Ministries, divisions with highest allocation lag in ADP implementation
  • 63% housing, community dev budget goes to three cities
  • This is how project aid utilisation is gearing up
  • ADP spending jumps in May, sparking fears over quality
  • Lower implementation mars ADP allocation

Features

Photo: Reuters

A tragedy that will also shake up the region's geopolitics

9h | Panorama
Nimah designed by Compass Architects- Wooden tiles. Photo: Junaid Hasan Pranto

Trendy flooring designs to upgrade any space

20h | Habitat
Benefits of having high ceilings in your new home

Benefits of having high ceilings in your new home

19h | Habitat
Each Reverse Osmosi plant can produce approximately 8,000 litres of drinking water a day for around 250 families. Photo: Sadiqur Rahman

A drop in the ocean of persistent water crisis

21h | Panorama

More Videos from TBS

30% companies see double-digit growth even in hard times

30% companies see double-digit growth even in hard times

11h | TBS Insight
Challenging time waiting for RMG

Challenging time waiting for RMG

18h | TBS Round Table
"Full Moon Meditation" organized by Department of Theater and Performance Studies, University of Dhaka

"Full Moon Meditation" organized by Department of Theater and Performance Studies, University of Dhaka

18h | TBS Graduates
10 cricketers who have played over 400 T20 matches

10 cricketers who have played over 400 T20 matches

18h | TBS SPORTS

Most Read

1
Photo: Courtesy
Panorama

From 'Made in Bangladesh' to 'Designed in Bangladesh'

2
Leepu realised his love for cars from a young age and for the last 40 years, he has transformed, designed and customised hundreds of cars. Photo: Collected
Panorama

'I am not crazy about cars anymore': Nizamuddin Awlia Leepu

3
Master plan for futuristic Chattogram city in the making
Districts

Master plan for futuristic Chattogram city in the making

4
The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. REUTERS/Yuri Gripas/File Photo
Economy

IMF approves $4.7 billion loan for Bangladesh, calls for ambitious reforms

5
Belal Ahmed new acting chairman of SIBL
Banking

Belal Ahmed new acting chairman of SIBL

6
Photo: Collected
Crime

Prime Distribution MD Mamun arrested in fraud case

EMAIL US
[email protected]
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Privacy Policy
  • Comment Policy
Copyright © 2023
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - [email protected]

For advertisement- [email protected]