The World Bank has expressed its willingness to provide $750 million to Pakistan to meet the extra cost of building a huge water reservoir, Munda Dam, English language daily Dawn reported. Four dams Munda, Kalabagh, Akori, and Bhasha have to be built by 2016. The Munda Dam will be able to store 0.67 million-acre feet of water, and will generate 740 megawatt of hydel electric power. The dam will also help to control flooding in Peshawar. The cost of building the dam, which was estimated at $6.1 billion in September 2005, had increased by 10 percent due to a surge in the prices of construction material. The World Bank is willing to help Pakistan meet the extra cost of building the dam, the sources said, adding that the government was also sourcing finance from local banks.
