ADB Pledges $4.5bn for Diamer-Bhasha Dam

The Asian Development Bank (ADB) is to give $4.5bn to Pakistan for the construction of the Diamer-Bhasha Dam, which will boost the country’s water storage and hydropower generation.

The $11bn Diamer-Bhasha dam will have a capacity of 8.1 million acre feet of water and generate 4,500MW of electricity.

The ADB will provide the amount in tranches depending on the pace of construction, reports The Express Tribune.

The Pakistan Government has allocated PKR19bn ($221m) to acquire land for the project.

The government also expects to receive $250m in funding from the US.