DHAKA, July 5: Bangladesh Insurance Association (BIA) today expressed eagerness to invest in the much talked about the Padma Multipurpose Bridge Project in the greater national interest.

"The country's private insurance companies are keen to invest a significant portion from their Taka 1,6299 crore life fund for construction of the Padma Bridge," BIA Chairman Sheikh Kabir Hossain said today.

Addressing a press conference in BIA's conference room, the BIA Chairman said the private insurance companies want to invest in the project considering the interest of the 16 crore people of the country.

He urged the World Bank to review its decision centering the bank's investment in the mega project for the sake of 16 crore people of Bangladesh. Kabir Hossain termed the WB's decision regarding withdrawal of its fund for construction of the bridge is undesirable.

Giving details, Sheikh Kabir told the newsmen that a Taka five crore of the total Taka 16, 299 crore life fund is remained deposited in government bonds and the rest Taka over 11 crore is in their hands.

"If the government wants, they can invest a major portion of the life fund to the project through mutual discussion with the government," he added.

The BIA Chairman hoped that like the insurance companies, others especially the non-resident Bangladeshis would come forward for construction of the Padma bridge as it is one of the most important projects of the state.

BIA former Vice-Chairman and Chairman of Karnaphuli Life Insurance Nizamuddin Ahmed, Managing Director of Rupali Life Insurance P K Roy, Vice- Chairman of Meghna Life Insurance Nasiruddin Ahmed, among others, were present at the press conference.