Pakistan got a boost in its efforts to secure international financing for the massive Diamer Bhasha Dam, when the United States committed $200 million for preliminary work on the multi-billion dollars project. The US commitment, signifying a steady improvement in bilateral ties, was made to Finance Minister Abdul Hafeez Shaikh, who discussed the major project in a series of meetings with American officials. According to Shaikh, the multi-year power generation and water conservation project was likely to cost more than $10 billion. Washington’s expression of support for the project is seen as an important signal to the international finance institutions and rich countries in terms of financial backing of the project, which upon its completion would contribute hugely to the country’s economic development. Rejecting the reports that the Asian Development Bank had backed out of its commitment to financing the mega project, the finance minister at a press conference said the ADB and the US would finance the feasibility study, surveys and consortium formation for the dam, to be built in Gilgit-Baltistan in an estimated 8-10 years. The government would complete land survey, feasibility and land acquisition processes to pave the way for construction of the dam. “This is a very good development,” Shaikh told reporters. Washington’s financing of the project would be in addition to the ongoing support it is providing to revamp existing dams’ power generation capacity.