The status of a highly-showcased $3-billion bridge and road program in Bangladesh, seen as an economic driver for the impoverished nation, remains unclear after the World Bank canceled a $1.2-billion credit, citing the government’s “inadequate response” to charges of corruption on the project.
Jim Yong Kim, the bank's new president, said on July 2 that the cancellation was "appropriate." The bank had been in talks with Bangladesh officials related to the alleged corruption since last September, he said.