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Bangladesh drops plan to seek World Bank aid
February 03, 2013
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DHAKA: Bangladesh has dropped plans to seek renewed World Bank (WB) assistance for construction of the country’s longest river bridge while it investigated allegations of corruption in the project, the bank said.

The bank last year cancelled a $1.2 billion credit for construction of the 6.2-km (4-mile) bridge over the Padma river after it found “credible evidence” of high-level corruption among Bangladeshi officials. On on Friday, the bank said it had received a letter from the government, indicating that it would not be asking the bank to lift its suspension of funds for the long-running project. 

“The Bangladesh government’s letter to the World Bank confirms the authorities’ intent to continue the investigation of alleged corruption related to the project,” the bank said.

Reuters

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