By Farzana Tamannur (TON Bangladesh)

On the eve of its 50th birthday, Bangladesh rejoices with glory and pride. The country has crossed numerous milestones along the way and is set to achieve many more in the coming years. In 2015, Bangladesh became a lower middle-income country from a low-income country as stated by the World Bank's categorization of countries. The country made a stunning performance in achieving the Millennium Development Goals (MDGs) in 2000 to 2015. Now Bangladesh hopes to become a developed country by 2041. And by 2024, Bangladesh is expected to come out of the LDC grouping. Since 2015, Bangladesh has been working toward fulfilling the Sustainable Development Goals (SDGs) by 2030.

On December 10, 2020, another feather in the cap was added. The dream of having a bridge over the great Padma River is going to be fulfilled lastly. The last span of the Padma Multipurpose Bridge was installed. This will connect both sides of the Padma River. Started in December 2015, the bridge is anticipated to be finished by 2021. This long-awaited bridge carries importance for Bangladesh on numerous accounts.

Economic and social transformation will be enormous

The Padma Bridge is estimated to enhance the GDP of the country by more than one percent. It will benefit about three crore people across 21 south-western districts of Bangladesh. These districts will be linked with the growth centers through better connectivity. They could be used as economic corridor. This will create opportunity for employment and income. The transportation system would be improved as movement of people will be improved. Supply chains within the country will be linked better. Goods and services would move smoothly from one place to another. People from the south-western parts of the country are moreover expected to have better access to healthcare, education, and other services.

Not only will people move to the urban area easily, opportunity will also come to the rural areas. This will change the rural economy which is already undergoing transformation. The share of the agriculture division to the GDP of the country has declined considerably with the coming out of non-farm activities in the rural areas. This was facilitated by numerous factors including better communication and connectivity. 

Bangladesh's confidence goes up

This bridge is a testament on how a country with inadequate resources can achieve its objective if there is determination. Under the leadership of Bangladesh's Prime Minister Sheikh Hasina, the Padma Bridge is the result of dedicated work of the Bangladeshi people including government officials, planners, engineers, workers and several other concerned persons.

Unquestionably, the construction of this 6.15 kilometer long double-deck bridge has improved the confidence of the country. This will permit policymakers to plan for bigger infrastructure. This will also encourage foreign investors to invest in infrastructure and in other sectors in Bangladesh.

Reaping the benefits is dependent on many factors

Infrastructure generates economic advantage to the extent they generate services for people. In other words, benefits from infrastructure are not automatic and it cannot work in isolation. The return from investitures depends on allowing policy framework and supporting measures.

One of the conditions is the development of all areas including the rural areas and creating opportunities for people everywhere.

Decentralization of services and opportunities is vital for reaping benefits from such infrastructure. For instance, setting up of industries in the newly linked districts will help stop migration from the rural regions to the big cities for work. Better access to finance for small and medium businesses for example agro-processing, handicrafts and food industries would also help create jobs. Besides, improvement of facilities for example uninterrupted electricity, education, internet, and healthcare in the villages would restrain people from crowding the cities.

Cost of the infrastructure is an significant factor for realizing the benefits. Back in 2007, the cost of the Padma Bridge was projected to be Tk 10,161 crores. However, after numerous revisions, the cost has been modified upward to Tk 30,193 crores. Delay in project execution has escalated costs as usual. Some extra features have been added to this bridge which was not originally planned.

Also, deflation of the taka against the US dollar has pushed the cost upwards. But how competently resources have been used and how wastage of resources has been managed should also be taken into consideration. This will be the education for future infrastructure development. High cost of the bridge could augment the toll for crossing the bridge. Higher transport cost will raise commodity prices. Cost escalation of the bridge might also delay the recovery of the project cost.

Therefore, once the bridge is completely functional, monitoring and assessment of the infrastructure will be vital to get the expected return. The construction of the bridge has been a milestone achievement of the government. But without its proficient management and governance, the rate of return from this mega project will be low.

Lastly, as Bangladesh is working towards reviving the economy from the fallouts of the Covid-19 pandemic, the Padma Bridge could help the country fulfill this effort to a great extent. It can also contribute toward achieving sustainable development.