Pakistan, WB sign agreements for hydropower & renewable energy development projects


Islamabad: Oct 15, 2020 (TNS): Pakistan and World Bank has signed two financing agreements worth 1,150 million dollars for hydropower and renewable energy development projects in Khyber Pakhtunkhwa.

Prime Minister Imran Khan witnessed the signing ceremony in Islamabad today (Thursday).

Minister for Economic Affairs Makhdum Khusro Bakhtyar, Minister for Power Omar Ayub Khan, Chief Minister Khyber Pakhtunkhwa Mahmood Khan, Advisor to CM Khyber Pakhtunkhwa Himayat Ullah Khan were also present.

Under the agreement, WB will provide concessional financing for Khyber Pakhtunkhwa Hydropower and Renewable Energy Development Project and Evacuation of Power from DASU Hydropower Project.

Main objective of the development of KHRE is to increase renewable energy generation and strengthen the capacity of associated institutions in Khyber Pakhtunkhwa.