Dhaka, Oct. 5 -- The Asian Development Bank (ADB) plans to cancel or reallocate around $408 million from slow-moving projects in Bangladesh this year, due to implementation delays though progress in several other ADB-backed initiatives.

The decision was made during a project implementation review meeting held in Dhaka on Tuesday, attended by representatives from the ADB, the Economic Relations Division (ERD), and various ministries. Such meetings are conducted twice annually to evaluate project performance and accelerate execution.

"Some projects have faced significant implementation delays," the ADB stated, noting that the partial cancellation of underperforming loans will "create more headroom for new financing aligned with the govern...