Friday September 08, 2006 (1239 PST)

ISLAMABAD : The Asian Development Bank (ADB) has offered investment of $3 billion in water and power sectors in Pakistan during the next three to five years, but questioned transparency in utilisation of funds.

The federal government has also sought $6.46 billion investment from the bank for the construction of Diamer-Basha dam for which a working group comprising concerned federal ministries and development partners would be established to work out financing modalities.

The World Bank (WB) has already expressed its willingness to finance the project, after all the confronting issues are resolved by the government amicably. The bottlenecks of ongoing and future water and power sector development projects funded by the ABD were discussed at a meeting between a seven-member bank's delegation headed by Juan Miranda and the Minister for Water and Power, Liaquat Ali Jatoi on Thursday.

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Posted by pichu at September 8, 2006 8:53 PM