The Asian Development Bank (ADB) refused funds for a $14 billion dam project in Pakistan. Diamer-Bhasha dam on the river Indus in Gilgit-Baltistan is very important project for Pakistan’s energy and irrigation requirements.
The ADB was originally seen by Pakistan as the lead financier of the strategic project.
Two years ago, the World Bank refused to come on board as a lender for Diamer-Bhasha, because Pakistan didn’t want to seek a no-objection certificate from India for the project. The dam is planned in the Gilgit-Baltistan region, which India claims is a part of the former princely state of Jammu and Kashmir.
India has long protested moves to support the Diamer-Bhasha dam and other infrastructure ventures in or bordering Pakistan-occupied-Kashmir.
Finance Minister of Pakistan Dar and the ADB chief witnessed the signing of a $250 million loan-agreement on the ‘Regional Improvement of Border Services’ between Pakistan and ADB to improve border management facilities at Torkham, Chaman and Wagah under the auspices of CAREC.
The projects aims at the modernisation of the physical infrastructure at border crossing points, provision of equipment such as scanners, weighing bridges etc, IT hardware & software support for the transition to a one-window system, and streamlining cross border procedures and capacity development.
