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Besides, the Development Credit Agreement (DCA) highlights the operation of BMDF to finance the municipalities as a means of participatory approach for municipality's infrastructural development projects.
BMDF has come into life by the gracious consent through signing an agreement between Govt.
WHY IS BMDF APPEARING AS A SUCCESS STORY IN BANGLADESH?
As per the DCA (Development Credit Agreement) between the GOB and WB, the motives of BMDF is to improve urban environment, infrastructure and services to
The fund is channeled through BMDF to ULBs for improve urban environment, infrastructure and services to (a) strengthen the institutional capacity of selected Municipalities and City Corporations; (b) improve resource allocation and fiscal discipline; and (c) support governmental efforts to reduce urban poverty and improve the environmental state of affairs for the urban communities.
IDA(WB) provides 90% fund with 10% matching contribution of ULBs for BMDF's program.
In BMDF course of action, a loan of Tk.90 comes down by 15% i.e 76.50 as ULB repays rest of the loan.
76.50 in BMDF concept, whereas in conventional concept, Tk.
'07 and meanwhile BMDF undertakes Development Works amounting US$ 64.61 million (WB 55.79m + 2.43m and ULBs 6.39m).
Using 90% fund from the World Bank, BMDF executes 100% works by means of rest 10% contribution from the ULB's.
TABLE 3--NUMERICAL EXPLANATION OF FUNDING POLICY OF BMDF A.
The 41st BoD meeting held on 03 December 2007 highlights that BMDF spent only BDT 132.12 m (US$ 1.94m = WB 1.81m + GoB 0.13m) during the last five years as its operational, incremental, supervision and administrative cost to execute the development program of BDT 4393.48 m (US$ 64.61m) which is only about 3% of total development fund.
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- BMD QCT
- BMDO Acquisition Reporting Bulletin Board
- BMDS (M)
- BMDS IDC