ISLAMABAD – Pakistan has faced a serious setback as the World Bank refused to finance much-needed 4,500 MW Diamer Bhasha Dam, at least in next five years, 2015-2019, which might put the project on the back burner. The World Bank’s Board of Directors on Thursday approved two different packages of assistance for Pakistan, including US$ one billion for support economic reforms and five-year Country Partnership Strategy (CPS) worth US$ 11 billion for next five years…
Posts published in “Day: May 3, 2014”
ISLAMABAD: The World Bank (WB) Group has now approved a package of assistance worth $1 billion to support Pakistan’s economic reforms, besides giving it $11 billion under a five-year Country Partnership Strategy. However, it has declined to finance the much-needed 4,500MW Diamer-Bhasha Dam during the next fiver years (2015-2019). The assistance package, which was approved by the WB Board of Directors on Thursday, consists of two Development Policy Credits (DPCs) to support the Pakistani government’s…