WB to provide $ 450 million for development of KP energy sector
Two hydel power projects in will be made in Swat.
PESHAWAR (APP) – World Bank (WB) agreed to provide financial assistance of $ 450 million for initiating two hydel power projects in Swat that would generate 254 megawatt electricity.
It was said in a high level meeting attended by Senior Energy Specialist of World Bank, Muhammad Saqib, CM adviser on Energy, Himayat Ullah Khan, Secretary Energy, Muhammad Zubair, Chief Executive PEDO, Naeem Khan, Project Director Gabral Power Project, Syed Aziz Ahmad and concerned officials, said a press release.
The meeting was told that World Bank in collaboration with International Development Association and International Bank for Reconstruction and Development prepared a financial package of Rs. 786 million dollars under Hydro and Renewable Energy Development Program for KP.
The package include construction of 88 MW Gabral Kalam Hydro Power Project and 157 MW Madayan Hydro Power Project, feasibility and design of new solar and hydel power projects.
The meeting after thorough discussion agreed on financial assistance of Rs. 450 million dollars for the program and said that final approval would be taken in the next meeting of WB Board of Directors.
Speaking on the occasion, CM adviser termed financial assistance from world financial institutions a good omen and said that it would not only strengthen provincial economy but would also help new employment opportunities.
