World Bank agrees to provide $1.150b to Pakistan for two projects

World Bank agrees to provide $1.150b to Pakistan for two projects

ISLAMABAD – The World Bank will provide 1.150 billion dollars to Pakistan for the development of two projects in Khyber Pakhtunkhwa (KPK), and transmission of power from the Dasu Hydropower Project.

As per a report of Radio Pakistan on Friday, the signing ceremony of two agreements with the World Bank in Islamabad also witnessed by Prime Minister of Islamic Republic of Pakistan Imran Khan.

In accordance with the one financing agreement, the World Bank will grant 450 million dollars for the KPK Hydropower and Renewable Energy Development  Project.

This program will help in building the capacity to produce the vast renewable energy potential in the province.

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

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

Prime Minister Imran Khan, on the event, apprised that Pakistan worth its partnership with the World Bank and the Government would carry out with the aim to gear up the socio-economic of the people of Pakistan.

 

 

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