The Asian Development Bank has expressed regret over the failure of the World Bank and the Bangladesh government to reach a workable agreement to move forward on the 2.9 billion US dollar Padma bridge project.According to an ADB official, the bank which is a co-financier of the project will be now be unable to provide funds following the World Bank's decision to cancel its loan of 1.2 billion US Dollars for the multipurpose Padma Bridge project.The official told AIR Correspondent in Dhaka that as per the project document and agreement due to the legal and joint nature of the co-financing arrangement, there's no scope for the co-financers of the Padma project to provide funds when the lead financier has pulled out making the agreement with the other co-financiers ineffective.In a statement issued on Monday, the Asian Development Bank also said that it understands and respects the reasons that have led the World Bank to cancel its loan of 1.2 billion US Dollars for the multipurpose Padma Bridge project which was expected to transform the economy of South Western Bangladesh.Emphasizing that the ADB and the World Bank follow similar policies, rules and procedures on governance and fiduciary oversight, the regional financial body said that it deeply regrets that both parties were unable to reach a workable agreement to move the operation forward in the landmark project for Bangladesh and the region.The World Bank on Saturday had decided to cancel the loan on the grounds of what it described as inadequate response by the Government of Bangladesh to its proposed actions that it had recommended for dealing with the credible evidence that had emerged with regard to corruption in the project.Bangladesh's Finance Minister A.M.A Muhith however dismissed the World Bank's claims in as unacceptable and urged the World Bank to review its decision.The decision of the World Bank to cancel the 1.2 billion US dollar loan has raised question marks over the future of the implementation of the multipurpose Padma bridge project.The 6.19 kilometre long Padma bridge was to be built at a cost of 2.9 billion US Dollars of which the World bank had committed to provide 1.2 billion US Dollars while the Asian Development Bank has committed to provide 615 million US Dollars, Japan International Cooperation Agency was to provide 400 million US Dollars and the Islamic Development Bank had agreed to give 140 million US Dollars.With the World Bank which is the lead financier and arranger for the project pulling out it has made it difficult for co financiers like the Asian development bank to continue their association with the project.While the Bangladesh government has urged the World Bank to review its decision, it is also exploring the possibility of constructing the bridge with alternative sources of funding from a consortium of companies backed by the Malaysian government.