Padma Bridge: Its huge impact on economy

Towards the end of 2020, the full length of Padma Bridge of our dream became visible. After
installation of the 41st span of the Padma Bridge on December 10, the real specimen of the
bridge now can be seen in full view. The total length of the bridge is 10.642 km. The length of
the main bridge is 6.15 km.

Construction expenditure of Padma Bridge increases day by day. In 2007 during the tenure of
Caretaker government the expenditure of Padma Bridge was estimated at Taka 10,161 crore
(1.47 billion US dollars). That time road construction plan involved 5.58 km. On 6th January
2009 Awami League formed government. In January the US-New Zealand-Australia-based
advisory firm Maunsell-Accom was selected for making the detailed design of the bridge.

History of Padma Bridge:

The Padma Bridge has its eventful history. We all know the historical events of its making. After
hiring consultants in 2009, they started working. Development partners and lenders expressed
interest in lending for the Padma Bridge project. A loan proposal was given by World Bank,
ADB and JICA at very low interest rates. After talks between the bridge division and lenders the
proposal for the two-storied bridge was granted. Its cost was earmarked at 2.4 million dollars or
16,970 crore taka. Development partners finalised the debt proposal. Papers were signed to
allocate from World Bank, ADB, JICA and IDB. In 2010 expenditure of the bridge was fixed at
2,972 million dollars or Tk 20,507 crore.

In 2011 the World Bank stated that they found credible evidence of corruption conspiracy and
then refused to sanction the proposed loan. Prime Minister Sheikh Hasina told the World Bank to
prove this type of allegation. On 28th June 2012 World Bank's president Robert Zoellick
cancelled the debt contract of Padma Bridge. Then other debt firms and donors also went back.
But World Bank did not give the loan assistance at all.

Due to the delay of the World Bank, Prime Minister Sheikh Hasina on January 31, 2013 rejected
the loan of the World Bank and announced the construction of the Padma Bridge with own
funds. This was a bold decision, Historical decision. Work on the Padma Bridge was inaugurated
in 2015. The first span of the Padma Bridge was laid on 30 September 2017. The last span was
set up on 10 December 2020.

Bridge Minister has announced that the Padma Bridge will open to traffic in 2022. The Padma
Bridge has been praised at home and abroad for its self-financing. The dignity of the country has
also increased. It has been able to set an example of Bangladesh's economic potential.
Bangladesh can do something good. Bangladesh is now a capable country. Problems with the
World Bank, loan suspensions and delays on different occasions have prolonged implementation
of the bridge. The construction of the bridge was supposed to be completed in 2014. There are
also allegations of corruption behind the increase in expenditure. Now the expenditure is Tk
301.93 billion (30,193 crore). It will take another two years to complete. It will increase the cost.
Then the largest bridge of the country will open to traffic.
Economic impact:

The construction of the bridge will have a huge economic impact on the country. In other words,
construction of this bridge will be economically profitable. Dhaka's communication with 21
southern districts will be reduced by 2 to 4 hours. The direct connectivity with the capital will
help expand trade and commerce, ease supply of raw materials and industrialization. Small and
big industries will be set up in the 21 districts. Agriculture will greatly improve. Farmers will get
better commodity prices. Production will increase.

According to the survey report, the economic impact of the bridge will help increase the annual
GDP of the south by 2.0 per cent and the overall GDP of the country by more than 1.0 per cent.
The construction of the bridge will improve the integrated communication structure of the
country. The southern part of the country will get connected to the Trans-Asian Highway (N-8)
and the Trans-Asian Railway. Bangladesh will have international connectivity with India,
Bhutan and Nepal. Economic zones, high-tech parks and private industrial cities will be built on
both sides of the bridge. Investment and employment will increase.

Mongla and Payra seaports will be operational. The tourism industry will flourish and new and
old tourist destinations, including Kuakata beach in the southern region, the Sundarbans, the
sixty-domed mosque, Bangabandhu Mazar in Tungipara, old and new resorts at Mawa and Jazira
will attract domestic and foreign tourists. According to the 2010 estimates, 12,000 vehicles were
crossing the Padma river. The traffic can double, if the bridge is opened and the number of
vehicles will increase by 7-8 per cent every year and by 2050, 67,000 vehicles will run.

Over the past few years, our economic progress, GDP growth, and the gradual improvement of
various social indicators have gained international recognition. Bangladesh's capacity has been
recognized due to its own mega projects like the Padma Bridge. We have talents. Our knowledge
is no less than others. For taking this bold decision, Prime Minister Sheikh Hasina has gained
applause far and wide. The nation will forever remember China's mechanical and financial
cooperation in construction of the bridge.