LAHORE - The Asian Development Bank (ADB) has assured to provide financial and technical support for Diamer Bhasha Dam Project and stated that the process for finalising modalities will be completed on fast track. This assurance was given by the Donneth A. Walton, Acting Country Head of the ADB during a meeting held here under the chairmanship of the Federal Minister for Water and Power, Raja Pervez Ashraf to review the progress and other related matters of the project. The meeting was also attended by Secretary, Adviser and Additional Secretary of the Ministry, Chairman Wapda, Member (Water) Wapda, Member (Infrastructure) Planning Commission, GM Diamer Bhasha Dam Project and other senior officials of the Ministry, Kashmir Affairs Division, Wapda and ADB. The ADB delegation informed the meeting that the bank is already in the process of due diligence of the project and all the aspects of this very important hydel power generation project have been included for assistance. The Minister, while chairing the meeting, highlighted the importance of the project in the national development and said it will be a multipurpose project, play a vital role in flood mitigation and open a new era of economic development and prosperity in Pakistan. Ashraf said that after completion, the dam will generate a cheaper electricity of 4,500 MW with live storage capacity of 6.4 million acre feet to irrigate thousands of acres land. He said that the life of Tarbela Dam will extend about 35 years after completion of Diamer Bhasha Dam. He said that Pakistan is facing energy crisis and taking all the possible measures to mitigate it. The Minister said that the Government is also working on various other hydel power projects to reduce dependence on thermal power and to generate cheaper and clean electricity to meet the future electricity needs. He said that the Government is very enthusiastic and the people of the area are very keen for early construction of the project. He said that WAPDA has started implementation of the resettlement plan and land acquisition. Earlier, the Chairman Wapda, Shakil Durrani briefed the meeting on the current status of the project, allocation of funds by the government during 2009-10, sanctioning of Rs 20 billion for the 2010-11, establishment of land acquisition and resettlement unit in Wapda, land acquisition in Gilgit Baltistan and Khyber Pakhtunkhwa, up gradation of KKH, three years resettlement plan and other related matters.