(MENAFN- Qatar News Agency) The World Bank has cancelled more than one billion dollars of funding to build Bangladesh's largest bridge, saying it had credible evidence of corruption among government officials and contractors.
In an e-mailed statement, the Bank said it was cancelling its $1.2 billion credit for the 6km-long the road-rail bridge across the Padma River.
Is said the evidence of corruption 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.
In December, Bangaldesh's Prime Minister Sheikh Hasina Wazed 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.
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