ADB ready to invest $3 billion in water and power sectors
11 September 2006 -- 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 use of funds.
The federal government has also sought $6.46 billion investment from the bank for the construction of the Diamer-Basha dam.
The World Bank has expressed its willingness to finance the project, once outstanding issues are resolved by the government.
The ADB team assured technical and financial support for major water and power sector projects, including improvements to distribution systems and transmission lines in order to improve system efficiency, and major rehabilitation and infrastructure projects in the water sector.
The bank would extend $500 million financial assistance for renewable energy development, $1,200 million for power transmission improvement, $250 million for power distribution system and $800 million for irrigated agriculture and water resources, besides a number of technical assistance program for capacity building and other relevant studies.
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