Sunday, 25 October 2020, 06:34:13 am
WB to provide $1.150b concessional financing to Pakistan for two power projects
October 16, 2020

The World Bank will provide 1.150 billion dollars concessional financing to Pakistan for the two projects to support hydropower and renewable energy development in Khyber Pakhtunkhwa, and transmission of power from Dasu Hydropower Project.

The Prime Minister Imran Khan witnessed the signing ceremony of two agreements with the World Bank in Islamabad.

Under the one financing agreement, the World Bank will provide 450 million for the Khyber Pakhtunkhwa Hydropower and Renewable Energy Development Project.

The project is a transformational programme that will help in building capacity for harvesting the vast renewable energy potential of the province.

Under the second financing agreement, the World Bank will provide 700 million dollars for Evacuation of Power from Dasu Hydropower (Phase-I) Project.

The objective of the project is transmission of power from 2160 MW Dasu Hydropower Project to respective load centers of Distribution Companies by construction of transmission line.

Prime Minister Imran Khan, on the occasion said that Pakistan values its partnership with the World Bank and the government would continue with the objective of socio-economic uplift of the people.