The World Bank has declared the $73 million Water Sector Capacity Building and Advisory Services project (WCAP) as “unsatisfactory” after losing its last hope to revive the scheme.

The decision comes after three successive governments of Pakistan failed to keep on track the project that was conceived 12 years ago to ensure better management of water resources in the Indus River basin, The Express Tribune reported.

The original completion date of the project was February 2014, which had been extended to June 2021.

The project implementation following the additional financing approved in 2015 continues to be slow and well behind agreed work plans, World Bank in its latest report said.

“The project targets cannot now be met in the time remaining for project implementation,” noted the report.

The report also shows that without achieving any targets, Pakistan spent $40.7 million out of the total loan of $73 million.