Washington D.C. | October 9, 2014
The U.S. Agency for International Development (USAID) and the U.S. Chamber of Commerce hosted senior Government of Pakistan officials, including Finance Minister Ishaq Dar and Minister for Water and Power Khawaja Mohammad Asif, who highlighted the business opportunities presented by Pakistan’s multibillion dollar, 4,500 megawatt Diamer Basha Dam Project to an audience of U.S. companies and investors.
“More than 30 years in the making, the Diamer Basha Dam has the potential to accelerate broad-based economic growth across Pakistan,” said USAID Administrator Dr. Rajiv Shah. “By convening this meeting, we hope to unlock opportunities for U.S. businesses and investors, which will help make the Dam a reality.”
“Pakistan is committed to making the economic and structural reforms necessary to attract and keep private investment. The Diamer Basha Dam Project offers tremendous opportunities for U.S. companies and investors, and helps Pakistan fulfill its economic potential by narrowing the energy deficit,” said Finance Minister Dar. “Both the government and the people of Pakistan greatly value U.S. assistance in Pakistan’s energy sector. Today’s meeting further strengthens our bilateral cooperation.”
Highlighting the Dam’s benefits, Minster for Power and Water Asif noted, “As envisioned, the Diamer Basha Dam will be transformational. It will provide enough renewable electricity for 41 million Pakistanis, will produce enough water to irrigate more than 4 million acres, and will help protect the 130 million people in the Indus Basin from deadly floods.”
The meeting generated substantial private sector interest with strong participation from both U.S. and Pakistani companies. The success of the U.S.-Pakistan Diamer Basha Business Opportunities Meeting marks the continuation of a wide-ranging partnership between the U.S. and Pakistan in its energy sector. USAID has already added or saved nearly 1,400 megawatts to Pakistan’s energy system through the completion of new hydropower dams, and the rehabilitation of existing power plants and transmission and distribution infrastructure, meeting the electricity needs of nearly 16 million Pakistanis. USAID has also worked to improve the performance of Pakistan’s nine power distribution companies, resulting in revenue increases of over $133 million to date.
To view a short video on the Diamer Basha Dam Project please visit:https://vimeo.com/108122042
For more information on the Diamer Basha Dam Project please visit:http://www.wapda.gov.pk/pdf/DiamerBashaDam.pdf