Dhaka, April 28 (IANS) Bangladesh and the Asian Development Bank (ADB) have jointly reviewed the implementation progress of ADB-assisted projects to further improve development results.

Farida Nasreen, additional secretary of Bangladesh's Economic Relations Division (ERD), and Manmohan Parkash, country director of the ADB, co-chaired the Tripartite Portfolio Review Meeting (TPRM) in Cox's Bazar, some 392 km southeast of Dhaka, Xinhua news agency reported on Sunday citing an ADB statement.

The TPRM discussed the status of overall portfolio and prioritised actions to achieve development results timely. Special emphasis was laid on safeguards, financial management, and gender-related actions.

The government project executing agencies were briefed about and encouraged to use the new ADB procurement policy approved in 2017. 

"The objectives of the review are further accelerating project implementation through early identification and quick resolution of project issues to help deliver faster development results and better outcomes," said Parkash.

"We are encouraged by the record contract awards and disbursements in 2018, and look forward to achieving even better results in 2019."

In 2018, ADB committed the highest level of support of $4.8 billion to Bangladesh, with eight sovereign projects totalling $2.2 billion in loans and grants, $16.5 million in technical assistance and $2.6 billion mobilised in co-financing.

ADB's current portfolio has 93 loans and grants for 52 projects with over $10 billion under sovereign portfolio.

The bank's focuses its cooperation in Bangladesh on six sectors, including energy, urban/municipal infrastructure and services, education, finance, natural resources, and rural development.