Industries News.Net

$1 billion loan to Pakistan for hydropower project from World Bank

Robert Besser
13 Jun 2024

ISLAMABAD, Pakistan: The World Bank announced on June 11 the approval of a US$1 billion loan for constructing Pakistan's largest hydropower project, Dasu, which is being developed in collaboration with China in the country's northwest.

According to the bank's statement, this significant loan will be utilized to expand hydropower electricity supply and enhance access for local communities.

"Pakistan's energy sector suffers from multiple challenges to achieving affordable, reliable, and sustainable energy," said Najy Benhassine, the World Bank director for Pakistan. He emphasized that the Dasu hydropower project site is a game changer for Pakistan's energy sector.

The World Bank highlighted that the project will contribute to "greening" the energy sector and reducing the cost of electricity. Located in the northwestern Khyber Pakhtunkhwa province, bordering Afghanistan, the dam is expected to have an installed capacity of 4,320 to 5,400 megawatts once completed.

Thousands of Chinese workers are involved in constructing the Dasu Dam and other projects under the China-Pakistan Economic Corridor. However, these workers have faced attacks from militants in recent years, who accuse them of exploiting local mineral resources.

Copyright ©1998-2024 Industries News.Net | Mainstream Media Limited - All rights reserved