Asian Development Bank refuses to fund mega Diamer-Bhasha dam project

58116cee0c500news65s65fISLAMABAD: The Asian Development Bank (ADB) on Wednesday declined to commit funds for the $14 billion Diamer-Bhasha dam project and called for governance reforms to encourage private investment and equitable growth for all Pakistanis.
“We did not really make any commitment. This is a very big project,” ADB president Takehiko Nakao said on Wednesday at a joint news conference with Finance Minister Ishaq Dar on the conclusion of the 15th ministerial meeting of the Central Asia Regional Economic Cooperation (CAREC) programme.
He said the United States Agency for International Development (USAID) was conducting a feasibility study on the Diamer-Bhasha dam, adding that while it was a very important project for Pakistan’s energy and irrigation requirements, it called for the formation of more partnerships that could provide funding for the project.