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Pakistan’s $14 Billion Dam Rejects in Aid
The Asian Development Bank (ADB) has said no to providing $14 billion for Pakistan’s proposed dam project in Pakistan-occupied Kashmir (PoK). Two years after the World Bank refused, Islamabad’s refusal to seek an approval from India is behind this decision.
ADB President Takehiko Nakao stated, "We didn’t make any commitment, but this is a significant project." He highlighted the project’s importance to Pakistan’s energy and irrigation needs and called for increased partnerships to possibly secure funding.
This marked the continuation of aid for the Central Asia Regional Economic Cooperation program, which comes after further delays in international funding for the project.
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