Prime Minister Sheikh Hasina: Government will build the Padma bridge with its own funds; Netherland to provide cooperation and assistance to Bangladesh on priority basis; Exports fell about 3 percent to $2.31 billion in June, 2012; US Secretary of the Nav
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    • According to reports, Prime Minister Sheikh Hasina announced in parliament on July 8, 2012 that the government will build the Padma bridge with its own funds and construction work will begin in the current fiscal year. She said the mega project, estimated to cost around Tk 23,000 crore, would be completed within fiscal year 2015-16.1 On the other hand, a large number of Bangladeshi expatriates demonstrated in front of the World Bank (WB) headquarters in Washington protesting the bank's cancellation of the Padma bridge loan over corruption allegations on July 11, 2012. During the demonstration, organised by the US chapter of Awami League (AL), its president Siddiqur Rahman submitted a memorandum to a representative of WB president for reconsidering the loan cancellation decision. 2

    Meanwhile, the Netherlands listed Bangladesh as one of the top 15 countries where it would provide cooperation and assistance on priority basis for the expansion of the emerging economies. 3
    Reports noted that Bangladesh’s exports fell about 3 percent to $2.31 billion in June, 2012 compared to the same month a year earlier, hit by Europe's financial crisis. Bangladesh's full-year exports grew by only 5.93 percent to $24.28 billion in fiscal 2011-12, compared to 40.5 percent a year ago, according to government data released on July 10, 2012. The country is well below its export growth target set by the government at about 16 percent for the just concluded fiscal year. 4

    In other developments, US Secretary of the Navy Ray Mabus arrived in Dhaka on July 13, 2012 on a three-day official visit to strengthen the defence relationship between the two countries. 5
    According to reports, Bangladesh Petroleum Exploration Company (Bapex) hit a natural gas reservoir at Srikail in Comilla on July 13, 2012, seven years after a failed attempt in the area. 6

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