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ADB’s Tk 3 cr fund going back

Times Business Report - January 1st, 2013

A total of Tk 3 crore fund provided by Asian Development Bank (ADB) is going back as the government failed to implement the project tilted “Enhance of Governance and Capacity of Insurance sector”.
The Finance Ministry has to give back the mentioned amount out of TK 5 crore-project according to the agreement.
Sources said the government signed an agreement with the ADB in 2007 for the well-being of country’s insurance sector.
The amount is going back as more irregularities were reported in the project, sources told banglanews.