Sat, Mar 25, 2017 | updated 01:20 PM IST

Will finance big develomental projects, except Padma bridge: World Bank chief

Updated: Oct 18, 2016 19:31 IST

Dhaka [Bangladesh], Oct 18 (ANI): World Bank President Jim Yong Kim has said they would be funding big developmental projects in Bangladesh, except the Padma Bridge project.

The Dhaka Tribune quoted Kim as saying, "We understand the importance of Padma Bridge, but we are not funding the bridge as the government has already begun its construction."

The World Bank President was addressing a joint press after a meeting with Bangladesh Finance Minister AMA Muhith at the Finance Ministry.

The statement came after about four years when the global lender had canceled its $1.2 billion credit in support of the $2.9 billion Padma Multipurpose Bridge project due to corruption allegation over the project-the largest ever physical infrastructure of Bangladesh.

The growth of Bangladesh and all other aspects of the country's development are extremely important for the World Bank, said Kim.

Muhith said that the problems with the World Bank for funding the Padma Bridge were over a few years ago.

"Now, we have good relations.we expect more assistance from the International Development Association of the World Bank," he said.

"World Bank is now committed to investing into other development projects .We hope World Bank assistance will be enhanced more than before," Muhith added. (ANI)

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