France provides Rs9bn soft loan to Pakistan
Last updated on: 19 July,2019 05:08 pm
Secretary EAD thanked the French govt and AFD for extending the financial assistance to Pakistan.
ISLAMABAD (Dunya News) – Economic Affairs Division (EAD) Secretary Noor Ahmed; Ambassador of France to Pakistan Marc Barety and French Agency for Development (AFD) Country Director Jacky AMPROU on Friday signed the Credit Facility Agreement worth Euros 50 million and a grant agreement of Euros 0.2 million for Rehabilitation of Dargai and Chitral Hydropower Projects.
Malakand and Chitral are one of the remotest districts of Khyber Pakhtunkhwa.
The project will upgrade the obsolete and vulnerable machinery with the state-of-the art-technology, enhance the capacity of the existing Power Stations of Dargai and Chitral, thus enhancing generation, transmission, and distribution of electricity keeping in view the future requirements of the region.
The project will contribute towards the government’s strategy for utilizing the available renewable energy sources for power generation and enhancing their capacities.
France through the French Agency for Development is working in Pakistan providing technical and financial support in energy sector where Euros 315 m financial support has been committed since 2016.
Secretary EAD thanked the French government and AFD for extending the financial assistance to Pakistan.