The status of a highly publicized $3-billion bridge-and-road program, seen as an economic driver for the impoverished nation of Bangladesh, 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, former Dartmouth College president and the bank's new chief officer, said on July 2 the decision was "appropriate." The bank had been in talks with Bangladesh officials since September, he said. Government officials on July 9 said they would proceed with the project using Bangladesh funds, according to local reports.