World Bank health programme: Audit finds $70m spending irregularities'.
In its rejoinder, which is printed in full below (an edited version was published in New Age along with the paper's response), the World Bank claimed that there were a number of errors in the article - the main one being that the 2012/13 audit of the health program did not find $70 million of irregularities but instead $25.6 million.
$25.6 million is of course a large number, but nowhere near as large as $70 million, and if the World Bank was correct, would indicate that the article had made a serious error.
However, the World Bank was not correct.
Below is a table setting out each of the observations (dealing with expenditure) which is set out in the audit along with the amount of Bangladeshi taka involved and then in US dollars. The taka/dollar exchange rate used was Tk77.75 = $1, which is the exchange rate used in the audit itself.
As you will see the total amount of these financial irregularities is Tk 533.02 crore which is equivalent to $69.44 million.