The current state of development projects in Bangladesh, particularly those funded by the Asian Development Bank (ADB), reflects the broader challenges posed by political instability and a government in transition.
According to a newspaper report published yesterday, as the country navigates a delicate post-uprising phase following the abrupt change in leadership, the country’s developmental momentum faces critical roadblocks.
The delay in implementing ADB-funded projects is one of the stark indicators of how political turbulence has permeated the development landscape.
The report said, the three-day Tripartite Portfolio Review Meeting (TPRM), which kicked off in Dhaka, comes at a crucial juncture.
With 53 ADB projects totalling $12.262 billion spread across key sectors like agriculture, energy, human development, transport, and finance, these initiatives are essential to the country’s growth trajectory.
However, the two-month standstill during the recent unrest has significantly slowed the pace of progress, particularly for large-scale infrastructure projects.
Despite the resumption of work in September, many projects have yet to regain the momentum needed to meet their targets.
ADB’s assessment highlights multiple challenges that have hindered progress, ranging from insufficient financial and human resources to cumbersome approval processes and land acquisition hurdles.
These factors are compounded by the limited capacity of many implementing agencies to manage such large-scale projects effectively.
As of September 2024, only 60.62 per cent progress has been achieved, leaving much ground to cover as the country grapples with the socio-political fallout of the August uprising.
While it is clear that the political unrest has complicated the development agenda, there is still hope.
The ADB’s rapid market assessment, aimed at understanding the socio-economic conditions on the ground, is a proactive step toward identifying and addressing the gaps.
Furthermore, the ADB’s commitment to working closely with the interim government shows that Bangladesh’s development partners remain invested in ensuring the success of these projects, despite the challenges.
In this moment of political transition, it is essential to view these development projects not just as numbers on a balance sheet but as vital investments in the future of Bangladesh.
The way forward lies in collaboration, efficiency, and stability. We must seize this moment to ensure that these projects do not falter in the face of adversity.