ADB declines to fund big dam project in PoK
The Asian Development Bank (ADB) has refused to commit funds for Pakistan’s $14 billion dam project on the Indus in Pakistan-occupied Kashmir (PoK), two years after the World Bank declined to fund the project following Islamabad’s refusal to seek an NoC from India.
“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 programme. Underlining that the project was very important for Pakistan’s energy and irrigation requirements, Mr. Nakao called for more partnerships that could provide funding.