Teesta River Project: Should Bangladesh Self-Fund?

7/15/2024 2:12:28 AM

(MENAFN- Asia Times) The Teesta River, a vital waterway in northern Bangladesh, has long been a lifeline for agriculture, livelihoods and biodiversity in the region. However, seasonal variations, with excessive flooding during monsoons and acute water shortages during dry spells, have created a pressing need for a comprehensive management and restoration project.

As discussions around the Teesta River Project intensify, Bangladesh faces a critical choice: Should the country rely on foreign investments from India and China, or should it follow the self-reliant path it successfully charted with the Padma Bridge and fund the project domestically?

This article explores the potential benefits and challenges of own-funding the Teesta River Project, drawing lessons from the Padma Bridge experience.

Potential benefits from self-funding

Bangladesh's decision to fund the Padma Bridge from its resources following the World Bank's withdrawal is a testament to its resilience and determination. The Padma Bridge, now nearing completion, is set to be a game-changer for the country's infrastructure, enhancing connectivity and boosting economic growth. This success has instilled a sense of national pride and demonstrated Bangladesh's capacity to undertake large-scale infrastructure projects independently.

First of all, funding the Teesta River Project domestically would grant Bangladesh full control over the project's planning, implementation, and management. This autonomy ensures that the project aligns with national interests and priorities and is free from external influences that might accompany foreign investments. Economic sovereignty also allows for greater flexibility in decision-making and project execution, which can be crucial for addressing local needs effectively.

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