World Bank cancels funding for Bangladesh bridge over corruption
The World Bank cancelled more than 1 billion dollars of funding for a Bangladeshi project, saying it had credible evidence of corruption among government officials and contractors, dpa reported.
In an e-mailed statement, the development bank said the evidence included corruption among executives of the Canada-based construction firm SNC Lavalin and private individuals connected to the Padma Multipurpose Bridge project.
"The World Bank cannot, should not and will not turn a blind eye to evidence of corruption," it said.
The bank suspended its funding last year while it investigated allegations that a company owned by the former communications minister had a role in appointing the Canadian firm as consultants.
Prime Minister Sheikh Hasina Wazed in December demanded that the World Bank provide evidence to support the allegations.
The bank said that it had received "unsatisfactory" responses from its attempts to get information from the Bangladeshi government. Two former SNC Lavalin executives have also been charged with corruption by Canadian prosecutors.