ISLAMABAD - Pakistan has asked the Asian Development Bank (ADB) to send a review mission on Diamir Bhasha Project after the bank’s earlier refusal to finance the multi-billion dollar project because of disagreement among donors.According to a press release issued by the Finance Ministry on Thursday, Finance Minister Dr Abdul Hafeez Shaikh asked the ADB Board of Directors to send its mission to review the Diamir Bhasha Project again so that other donor organisations like World Bank would also take interest in the project. He said that ADB is determined to finance the multi-billion dollar project and the US had also shown interest in investing in it.Pakistan is facing serious financing problems for $12 billion Diamir Bhasha Project, as the World Bank refused to extend a loan for the project, calling it risk financing. ADB had earlier conveyed to Pakistan that it would extend a credit line for the project only when the World Bank would join the project. However, with the refusal of World Bank, the fate of multi-billion-dollar project hanging in doldrums.The Bhasha Dam will have the capacity of producing 4,500 megawatts of electricity that could be pivotal for overcoming the power crisis of the country. The press release says that a meeting between Pakistan economic team and Asian Development Bank (ADB) Board of Directors were held aiming at exchanging views on different aspects of Pakistan economy.The meeting also discussed specific issues like ADB’s involvement in Thar Coal. The minister highlighted that all misunderstandings or ambiguities between ADB and the government should be settled in order to get early completion of Thar Coal Project. Shaikh gave a briefing on the national economy and told the ADB directors about government’s performance in the last four and a half years. He said in the meeting that after devolvement of various miniseries, the provinces were generating more revenues.He said despite challenges the government remained able to give pace to economic growth. “We did stringent austerity measures in terms of controlling federal expenditures and took bold steps to enhance tax revenues”, he added.The minister informed the meeting that issue of decline in investment was being exaggerated by the media but in reality Pakistan had liberal investment regime and there were enormous opportunities for investors. “There are special economic zones in the country created for facilitating investors and we have open and supporting investment policies in many sectors like Thar Coal Project”, he said.ADB Executive Director Maurin Sitorus said that Pakistan was important and reliable member of ADB and appreciated the government for assisting ADB’s profile in Pakistan. He also said improvement in energy sector and infrastructure reforms were ADB’s focus in Pakistan.