The World Bank approves a $1 billion loan for Pakistan's flagship hydropower project

ISLAMABAD — The World Bank said on Tuesday it has approved $1 billion for the construction of Pakistan's largest Dasu hydropower project, which is being built in the country's northwest with help from China.

The loan would be used to expand electricity supplies from hydropower and improve access for local communities, the bank said in a statement.

“Pakistan's energy sector faces multiple challenges in achieving affordable, reliable and sustainable energy,” said Najy Benhassine, World Bank Director for Pakistan. The Dasu hydropower project site is a game changer for Pakistan's energy sector, he said.

The bank said the project will help 'green' the energy sector and reduce electricity costs. The dam is being built in the northwestern province of Khyber Pakhtunkhwa, bordering Afghanistan, and will have an installed capacity of 4,320 to 5,400 megawatts once completed. .

Thousands of Chinese have worked on the Dasu Dam and other projects related to it China-Pakistan Economic Corridor. Some have been attacked in recent years by militants who accuse them of plundering mineral resources.

Related Posts

  • Business
  • June 15, 2024
  • 1 views
  • 3 minutes Read
Salesforce (CRM) Q1 2025 Earnings Report

Marc Benioff, CEO of Salesforce, will appear on a panel at the World Economic Forum in Davos, Switzerland on January 18, 2024. Stefan Wermuth | Bloomberg | Getty Images Sales…

  • Business
  • June 15, 2024
  • 3 views
  • 4 minutes Read
You may owe the IRS money on Monday; skipping payment could cost you hundreds of dollars

Yellen says IRS audits have increased to focus on the very wealthy Yellen says IRS audits have increased to focus on the very wealthy 02:39 Some taxpayers may not be…

Leave a Reply

Your email address will not be published. Required fields are marked *

You Missed

Salesforce (CRM) Q1 2025 Earnings Report

  • June 15, 2024
Salesforce (CRM) Q1 2025 Earnings Report

Quantum entanglement measures the rotation of the Earth

  • June 15, 2024
Quantum entanglement measures the rotation of the Earth

DOJ Destroys GOP Conspiracy That Controlled New York Trial

  • June 15, 2024
DOJ Destroys GOP Conspiracy That Controlled New York Trial

Nvidia's 'Nemotron-4 340B' model redefines synthetic data generation and competes with GPT-4

  • June 15, 2024
Nvidia's 'Nemotron-4 340B' model redefines synthetic data generation and competes with GPT-4

China needs bond market reforms to rein in rising debt, S&P Global says

  • June 15, 2024
China needs bond market reforms to rein in rising debt, S&P Global says

The tasty flavors of chocolate can pose a risk in other desserts

  • June 15, 2024
The tasty flavors of chocolate can pose a risk in other desserts

Where to watch Italy vs. Watch Albania: Euro 2024 live stream online, prediction, odds, how to watch, TV channel

  • June 15, 2024
Where to watch Italy vs.  Watch Albania: Euro 2024 live stream online, prediction, odds, how to watch, TV channel

You may owe the IRS money on Monday; skipping payment could cost you hundreds of dollars

  • June 15, 2024
You may owe the IRS money on Monday;  skipping payment could cost you hundreds of dollars

Trump celebrates his 78th birthday in West Palm Beach as Rubio makes a surprise appearance

  • June 15, 2024
Trump celebrates his 78th birthday in West Palm Beach as Rubio makes a surprise appearance

The 2024 election cycle offers hope for a 134-year global gender gap

  • June 15, 2024
The 2024 election cycle offers hope for a 134-year global gender gap

Rapid urbanization in Africa is transforming local food systems and threatening biodiversity

  • June 15, 2024
Rapid urbanization in Africa is transforming local food systems and threatening biodiversity