Development Bank, the Japan International Cooperation Agency (JICA) and the Islamic Development Bank. The Bangladesh Bridge Authority is the executing agency of the project. Communications Minister Obaidul Quader confirmed that the government is going to sign a memorandum of understanding (MoU) with Malaysia on February 21 to construct Padma multipurpose bridge. Once the MoU is signed, the loan interest and other issues will be finalized through negotiation, the minister said while talking to reporters at Roads and Highways office in the capital. The Malaysian government on January 30 formally offered financing for the construction of Padma bridge project, which has been welcomed by Bangladesh government. Malaysian official news agency Bernama reported on Saturday that a consortium comprising experienced Malaysian construction companies will be set up to undertake the $2.19 billion (RM 6.6 billion) Padma multi-purpose bridge project after the Bangladesh government accepts Malaysia's technical and financial proposals on the project. Construction of the 6.15 km bridge became uncertain when the World Bank suspended a $1.2 billion loan last year alleging corruption in the pre-bidding process. On 29 June 2012, World Bank cancelled its $1.2 billion loan. On 16th July, China Railway Engineering Corporation has proposed Government of Bangladesh with a better offer than World Bank to build the Padma Bridge about no interest and 3 years work time feature.
Padma Bridge: From Beginning to Now 2.1.0 Fund Rising of Padma Bridge Padma Bridge is very much desired and a dream project to Bangladeshi people. It’s also having a great economical impact on Bangladesh’s economy. When completed it will be the largest bridge in Bangladesh and the first fixed river crossing for road traffic. It will connect Louhajong, Munshiganj to Shariatpur and Madaripur, linking the south-west of the country, to northern and eastern regions. It will unlock the economic potential of the Southwest Region, transforming the lives of millions of Bangladeshis and accelerating national growth toward middle income country status. It will also enable a large scale development in this area which will ensure more business related activities. The ultimate result will be a good amount of expansion of total economy of Bangladesh. At 04th December 2010 Communications Minister Syed Abul Hossain has said that the funds for the much-desired Padma Bridge have been arranged and its construction will be completed before the end of the tenure of the current government. The minister mentioned this on 03rd December, 2010 while distributing the compensation among the landowners, whose lands have been acquired for the bridge, at Zazira in Shariatpur. Abul Hossain said that the bridge will be constructed at a cost of Tk 210 billion – of which Tk